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Which of the following statements related to credit risk during the life of a swap is most accurate: A. Credit risk is greatest at the beginning of the swap term because there are significant payments yet to be made over the remaining term of the swap. B. Credit risk is greatest in the middle of the swap term when both the creditworthiness of the counterparty may have deteriorated since swap initiation and there are significant payments yet to be made over the remaining term of the swap. (Study Session 17, LOS 57.i) C. Credit risk is greatest at the end of the swap term because creditworthiness of the counterparty is likely to have deteriorated since swap initiation. |