The International Swaps and Derivatives Association, Inc. (ISDA) has published a new analysis of counterparty credit risk management in the US over-the-counter (OTC) derivatives markets. The paper examines the extent of counterparty credit losses and notes the efficacy of credit mitigation techniques in the US banking system. The paper states that according to reports published by the Office of the Comptroller of the Currency (OCC), US bank losses on OTC derivatives products due to counterparty defaults totaled less than $2.7 billion since 2007. It also notes that risk management processes such as netting and collateralization significantly reduce US banks' net current credit exposure (NCCE). In fact, netting and collateralization decrease the NCCE of the US banking system to $107 billion, or 4 basis points (0.04%) of notionals outstanding. Less than one-third of this amount -- or approximately $30 billion -- is with entities covered by The Dodd-Frank Act's requirements on margining and clearing.[...]