Credit Risk, when/where in Swaps?

Could someone help quickly sum this up for me? Credit risk is at the start, in the middle, or at the end of certain swaps… could someone list the types of swaps and where credit risk applies…? Many Thanks.

Just look at the payments; if there is a payment due then there is credit risk because they might not make it. Most swaps do not wait until the end of the period for payment so a swap with credit risk only at the end of the swap period is rare. For interest rate swaps, such an arrangement is called a zero-coupon swap. Credit risk at the beginning of the period is probably settlement risk and it occurs only when something is exchanged as in an FX swap. All other swaps distribute the credit risk to periodic payments.

JDV back again. Must be a good sign.

currency swap notional is swapped in the end, so towards the end int rate swap makes periodic (quartery, semmi annual) so towards the middle as credit quality may have deteriorated