Swap Markets

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

Abstract

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.

Keywords

Income 

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Copyright information

© Charles Errington 1994

Authors and Affiliations

  • Charles Errington

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