Swap Markets

  • Charles Errington
Part of the Finance and Capital Markets Series book series (FCMS)


An interest rate swap is an agreement between two counterparties to exchange interest payments and receipts on a number of occasions during a specified period. It is equivalent to two simultaneous cash transactions — each counterparty is, in effect, lending to and borrowing from the other the same capital amount over the same period.


Interest Rate Credit Risk Fixed Rate Spot Market French Franc 
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Copyright information

© Charles Errington 1994

Authors and Affiliations

  • Charles Errington

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