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问题如下：

Sacks Bank has many open derivative positions with Lake Investments. A description and current market values are displayed in the table below:

In the event that Lake defaults, what would be the loss to Sacks if netting is used?

选项：

A.

USD 5 million

B.

USD 10 million

C.

USD 25 million

D.

USD 35 million

解释：

Netting means that the payments between the two counterparties are netted out, so that only a net payment has to be made. With netting, Sacks is not required to make the payout of 25 million. Hence the loss will be reduced to: 35 million -25 million = 10 million