Abstract
Swaps are one of the most important and useful instruments in the debt capital markets. They are used by a wide range of institutions, including banks, mortgage banks and building societies, corporates and local authorities. The demand for them has grown as the continuing uncertainty and volatility of interest rates and exchange rates has made it more important to hedge exposures. As the market has matured the instrument has gained wider acceptance, and is regarded as a ‘plain vanilla’ product in the debt capital markets.
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© 2010 Moorad Choudhry, Didier Joannas, Gino Landuyt, Richard Pereira and Rod Pienaar
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Choudhry, M., Joannas, D., Landuyt, G., Pereira, R., Pienaar, R. (2010). Swaps. In: Capital Market Instruments. Palgrave Macmillan, London. https://doi.org/10.1057/9780230279384_16
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DOI: https://doi.org/10.1057/9780230279384_16
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