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  "domain": "derivatives",
  "title": "Japan corporate CDS spread mechanics",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Japan corporate CDS spread mechanics",
    "aliases": [
      "cds-japan-corporate-spread-mechanics",
      "Japan corporate CDS spread",
      "Japan single-name CDS mechanics",
      "Japan CDS recovery auction",
      "Japan CDS credit events",
      "日本 コーポレート CDS スプレッド",
      "日本社債 CDS メカニクス"
    ],
    "domain": "derivatives",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "derivatives",
      "cds",
      "credit-event",
      "isda",
      "recovery-rate",
      "auction",
      "basis",
      "jgb",
      "life-insurer",
      "pension"
    ],
    "status": "active",
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    "note": null,
    "sources": [
      "https://www.isda.org/2014/06/30/2014-credit-derivatives-definitions/",
      "https://www.cdsdeterminationscommittees.org/",
      "https://www.creditfixings.com/",
      "https://www.fsa.go.jp/en/refer/councils/follow-up/index.html",
      "https://www.boj.or.jp/en/statistics/index.htm",
      "https://www.mof.go.jp/english/policy/jgbs/index.html",
      "https://www.jpx.co.jp/jscc/en/cds/index.html",
      "https://www.jsda.or.jp/en/"
    ]
  },
  "summary": "Japan corporate CDS spread is the running-basis-point premium a protection buyer pays to a protection seller in exchange for contractually specified credit protection on a Japanese reference entity. Market quotes embed default risk, recovery assumptions, liquidity, funding and other premia; a sovere",
  "headings": [
    "Japan corporate CDS spread mechanics",
    "TL;DR",
    "Wiki route",
    "Building blocks",
    "Risk-neutral default probability",
    "Recovery rate assumption",
    "Credit events under 2014 ISDA Definitions",
    "Bankruptcy",
    "Failure to pay",
    "Restructuring (and variants)"
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