It is important that market participants clearly understand the precise rights and obligations which they assume when entering into credit derivatives transactions, as standardised contracts do not always work out in the way that contracting parties anticipate. Also, in some instances, case law has demonstrated that the courts can take divergent views regarding the meaning of ISDA’s definitions of credit derivatives.
3 Hiroshi Nakaso, "Basic Idea Underlying 'Quantitative and Qualitative Easing'," Speech at the International Conference Organized by the Economic and Social Research Institute, Cabinet Office, Government of Japan, May 31, 2013. 8  deflation, which is a challenge that the economy has faced for many years.