Our first category of derivatives consists of a number of contracts, written in 2004-2008, that required payments by us if there were bond defaults by companies included in certain high-yield indices.

我们的第一类衍生品合约由若干合约组成，包括各种高收益率公司债券。它们于2004至2008年签订，要求在债券违约的情况下由我们来偿付。

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