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Credit-Default Swaps Top $33 Trillion, Depository Trust Says

By Shannon D. Harrington

Nov. 4 (Bloomberg) -- Credit-default swaps totaling $33.6 trillion are outstanding on companies, governments and asset- backed securities worldwide, the Depository Trust & Clearing Corp. said in a report that gives the broadest data yet on the unregulated market.

About $15.4 trillion of the contracts were linked to individual corporate, sovereign and asset-backed bonds, the DTCC said in the report released on its Web site today. About $14.8 trillion is tied to indexes. The report also lists the 1,000 most-traded contracts. The New York-based DTCC estimates it sees about 90 percent of all trades.

To contact the reporter on this story: Shannon D. Harrington in New York at sharrington6@bloomberg.net

Last Updated: November 4, 2008 17:18 EST

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