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Interest rate swap
Practical Law UK Glossary 2-107-6286 (Approx. 2 pages)
Glossary
Interest rate swap
A derivative contract under which one party agrees to exchange with the other party a floating rate interest liability for a fixed rate interest liability in respect of a particular currency.
For an overview on interest rate swaps, see PLC Finance, Practice note, Derivatives: overview: Interest rate swap.
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