A basis swap is an interest rate swap which involves the exchange of two floating rate financial instruments. A basis swap functions as a floating-floating interest rate swap under which the floating rate payments are referenced to different bases.
Read more about Basis Swap: Usage of Basis Swaps For Hedging, Basis Swaps in Energy Commodities
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“The basis of successful relief in national distress is to mobilize and organize the infinite number of agencies of self help in the community. That has been the American way.”
—Herbert Hoover (1874–1964)
“If we should swap a good library for a second-rate stump speech and not ask for boot, it would be thoroughly in tune with our hearts. For deep within each of us lies politics. It is our football, baseball, and tennis rolled into one. We enjoy it; we will hitch up and drive for miles in order to hear and applaud the vitriolic phrases of a candidate we have already reckoned we’ll vote against.”
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)