Derivatives · glossary
A swap of a fixed rate for a floating one on the same notional and dates, netted to one payment each quarter, so either side may end up paying. Atlas paid 3% and received three-month EURIBOR on €25,000,000, later €15,000,000. Only each quarter's net payment is cash. Confirmation 1 · Chapter 2
Explained in Chapter 2, The Swap, Line by Line, of Derivatives.
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