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Swaps and Swap Derivatives

  • Erik Banks
Part of the Finance and Capital Markets Series book series (FCMS)

Abstract

The swap in its simplest form can be described as a periodic exchange (or ‘swap’) of payments between two counterparties for a specified period of time; the exchange is generally based on interest rates, currency rates or commodity prices. The actual exchange of payments is governed by a contractual agreement between the participants and is reflected as an off-balance sheet exposure.

Keywords

Interest Rate Credit Risk Market Rate Replacement Cost Historical Volatility 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Erik Banks 1993

Authors and Affiliations

  • Erik Banks
    • 1
  1. 1.TokyoJapan

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