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Goldman, during this period, was the sixth-largest issuer in the world.
The deal will give MBNA, the second-largest credit-card issuer in the world, 1.3 million new customers.
Barclays hopes to expand Barclaycard in continental Europe it is already the third-biggest card issuer in Germany.
Capital One, the fourth-biggest credit-card issuer in America, began life as part of Virginia's Signet Bank.
Insiders reckon that Amex is the first card issuer in America to reach a peak in losses.
Roughly one-third of the credit default swaps provided insurance against a default by a specific corporate debt issuer in 2006, according to the British Bankers Associationn.
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Mr. Keech says credit card issuers in the United States and Britain are considering using his system.
There may be some "one-off defaults by smaller issuers in economically depressed areas," he said.
Last year there were 108 sovereign issuers; in 1983 there were only 14, all investment grade.
But for issuers in a crowded sovereign-debt market, it means fewer trips to the well.
It is also subject to the risks common to all issuers in Indonesia.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com