Tuesday, November 4, 2008

Over 1 Trillion Dollars Worth of Credit Default Swaps Against Governments

The Depository Trust and Clearing Corporation made some information public today about Credit Default Swaps.

There are between $33 trillion and $47 trillion or so in CDS still outstanding, even after the Lehman CDS were settled (PNB Paribas estimates that as much as 40% of the CDS market - including much of the market for CDS on collateralized debt obligations - is "off-the-books" and unreported).

Approximately 1.5 trillion of that is CDS concerning "Sovereign / State Bodies", in other words, countries. Some of the countries against which CDS bets are being made, and the amounts of CDS bets, include:

Reference Entity

Gross Notional Value

ARGENTINE REPUBLIC

$54,898,977,416

BOLIVARIAN REPUBLIC OF VENEZUELA

50,229,525,972

CZECH REPUBLIC

4,667,167,370

FEDERAL REPUBLIC OF GERMANY

37,704,802,794

FEDERATIVE REPUBLIC OF BRAZIL

147,282,298,727

FRENCH REPUBLIC

21,294,685,660

HELLENIC REPUBLIC

34,412,341,491

PEOPLE'S REPUBLIC OF CHINA

18,734,303,665

KINGDOM OF BELGIUM

12,370,019,800

KINGDOM OF DENMARK

4,158,419,764

KINGDOM OF NORWAY

2,152,552,000

KINGDOM OF SPAIN

61,362,202,916

KINGDOM OF SWEDEN

5,238,151,800

KINGDOM OF THAILAND

16,449,099,545

KINGDOM OF THE NETHERLANDS

4,473,401,700

REPUBLIC OF AUSTRIA

15,107,279,147

REPUBLIC OF BULGARIA

15,755,279,062

REPUBLIC OF CHILE

2,876,548,199

REPUBLIC OF COLOMBIA

30,514,869,250

REPUBLIC OF CROATIA

4,119,321,657

REPUBLIC OF ECUADOR

5,800,607,000

REPUBLIC OF ESTONIA

2,177,002,324

REPUBLIC OF FINLAND

3,696,135,200

REPUBLIC OF HUNGARY

32,763,644,099

REPUBLIC OF ICELAND

8,808,204,575

REPUBLIC OF INDONESIA

30,459,955,229

REPUBLIC OF ITALY

148,617,213,985

REPUBLIC OF KAZAKHSTAN

23,182,954,247

REPUBLIC OF KOREA

49,254,188,100

REPUBLIC OF LATVIA

6,281,734,552

REPUBLIC OF LITHUANIA

3,216,066,342

REPUBLIC OF PANAMA

6,554,952,966

REPUBLIC OF PERU

19,660,717,899

REPUBLIC OF POLAND

16,450,839,456

REPUBLIC OF PORTUGAL

24,272,147,229

REPUBLIC OF SOUTH AFRICA

31,489,780,165

REPUBLIC OF THE PHILIPPINES

66,218,347,379

REPUBLIC OF TURKEY

188,628,684,750

RUSSIAN FEDERATION

110,068,180,097

SLOVAK REPUBLIC

5,346,498,565

SOCIALIST REPUBLIC OF VIETNAM

5,967,756,774

UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND

12,130,975,680

UNITED MEXICAN STATES

74,941,756,398

UNITED STATES OF AMERICA

4,759,492,270

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2 comments:

  1. RBNovember 6, 2008 at 6:08 AM

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    Read and learn the truth of what's afoot with this on-purpose financial dismantlement of the U.S.

    Planned Destruction of America
    http://planneddestructionofamerica.blogspot.com/

    Corporate America: What Went Wrong?
    http://corporateamericawhatwentwrong.blogspot.com/

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    ReplyDelete
  2. meltdown101November 6, 2008 at 8:25 AM

    Is there anything that these Wall St gangsters haven't bet the farm on without having told the owners ?

    ReplyDelete

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