Derivatives · glossary
The published rate a floating payment reads, which neither party controls. Here the loan, the swap and the cap all read three-month EURIBOR, published in Brussels each business day, so they move together. Cash posted as collateral earns a different benchmark, €STR, the euro short-term rate. Rate Definitions: Floating Rate · FA definition: EURIBOR · Chapter 1 · Chapter 10
Explained in Chapter 1, What a Derivative Is, of Derivatives.
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