{"id":165777,"date":"2022-05-06T15:48:17","date_gmt":"2022-05-06T15:48:17","guid":{"rendered":"https:\/\/theotcspace.com\/knowledge_item\/nth-to-default-basket-swap\/"},"modified":"2022-05-06T15:48:21","modified_gmt":"2022-05-06T15:48:21","slug":"nth-to-default-basket-swap","status":"publish","type":"knowledge_item","link":"https:\/\/theotcspace.com\/knowledge_item\/nth-to-default-basket-swap\/","title":{"rendered":"Nth-to-Default Basket Swap"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"<p>A basket default swap on which a credit event occurs when nth default occurs in the reference basket. At that point the buyer stops paying the premium and receives the difference of the principal amount of the latest (nth) defaulted entity and the recovered value. Note that the premium does not stop until the n-th default as long as the counterparty does not default, even if there are already defaults in the basket.<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false},"knowledge_category":[4256],"acf":[],"_links":{"self":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_item\/165777"}],"collection":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_item"}],"about":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/types\/knowledge_item"}],"wp:attachment":[{"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/media?parent=165777"}],"wp:term":[{"taxonomy":"knowledge_category","embeddable":true,"href":"https:\/\/theotcspace.com\/wp-json\/wp\/v2\/knowledge_category?post=165777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}