Growth of Interest Rate Swap Market 600,000.00 Notional Outstanding (in Billions, USD) 500,000.00 400,000.00 300,000.00 200,000.00 100,000.00 0.00 Jun 1998 Jun 1999 Jun.2000 Dec.1998 Dec.1999 Dec. 2000 Source: BIS (2011) Jun.2001 Dec.2001 Jun.2002 Dec.2002 Jun.2003 Dec.2003 Jun.2004 Dec.2004 Jun.2005 Dec.2005 Dec.2006 Dec. 2007 Dec.2008 Jun 2006 Jun.2007 Jun 2008 Jun.2009 Dec.2009 Jun 2010 Jun 2011 Dec.2010 Fig. 1: US Syndicated Loan Market (USD Bn) Growth 1400 1200 CS LLI Face Value 1000 800 600 400 200 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD