An interest rate swap (IRS) is a popular and highly liquid financial derivative instrument in which two parties agree to exchange interest rate cash flows, based on a specified notional amount from a fixed rate to a floating rate (or vice versa) or from one floating rate to another. Interest rate swaps are commonly used for both hedging and speculating.
Read more about Interest Rate Swap: Structure, Types, Uses, Valuation and Pricing, Risks, Market Size
Famous quotes containing the words interest, rate and/or swap:
“History in the making is a very uncertain thing. It might be better to wait till the South American republic has got through with its twenty-fifth revolution before reading much about it. When it is over, some one whose business it is, will be sure to give you in a digested form all that it concerns you to know, and save you trouble, confusion, and time. If you will follow this plan, you will be surprised to find how new and fresh your interest in what you read will become.”
—Anna C. Brackett (1836–1911)
“As a novelist, I cannot occupy myself with “characters,” or at any rate central ones, who lack panache, in one or another sense, who would be incapable of a major action or a major passion, or who have not a touch of the ambiguity, the ultimate unaccountability, the enlarging mistiness of persons “in history.” History, as more austerely I now know it, is not romantic. But I am.”
—Elizabeth Bowen (1899–1973)
“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)