Credit-default swaps ( cdss ) cushioned lenders from shocks .

信用违约交换（cds）使放贷者免于风波。

In most other cases such swaps would also imply public ownership .

在其它大多数这样的例子中，这种交换意味着国有化。

Generous land swaps and cheap premiums for re-zoning land use rights are common in macao .

条件优惠的土地交换和土地使用权廉价出让在澳门颇为普遍。

Did the sellers of these swaps underprice them because they understated the risk of default ?

出售这些信用违约交换的人是不是因为他们有意压低违约风险才压低价格？

To be useful hedges , swaps need to have a degree of specialisation .

作为有效的套期保值手段，合约交换需要有一定程度的特化。