By 2007 there was over $62 trillion in credit instruments covered by credit default swaps worldwide.

Question

Quizplus · Accepted Answer

By 2007, the market for credit default swaps (CDS), a type of financial derivative or contract that allows an investor to "swap" or offset their credit risk with that of another investor, had grown exponentially, reaching over $62 trillion in notional amount covered worldwide. This rapid expansion was one of the factors that contributed to the global financial crisis of 2008.

By 2007 There Was Over $62 Trillion in Credit Instruments