plain vanilla swap

A typical interest-rate swap that involves one counterparty’s paying a fixed interest rate while the other assumes a floating interest rate based on the amount of the principal of the underlying debt.

• The underlying debt, called the “notional” amount of the swap, does not change hands — only the interest payments are exchanged.

— Also termed generic swap.

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词条贡献者

译员Dennis，毕业于英国顶尖的高级翻译学院，专注翻译各种与高管退休金和员工福利有关的法律文件。