off-market swap
Noun
An interest rate swap in which the fixed rate is set away from the market-clearing level, which requires from the receiver (payer) payment of the above-market (below-market) rate to the other counterparty.
An interest rate swap in which the fixed rate is set away from the market-clearing level, which requires from the receiver (payer) payment of the above-market (below-market) rate to the other counterparty.
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