A type of interest rate swap (IRS) or cross-currency swap (xccy swap) in which the fixed rate leg resets periodically over the course of its term. For example, the fixed rate of a swap may be subject to a quarterly review. At that time the prevailing rates will be used to reset or re-adjust that rate to a new level, taking into consideration any emerging market reality.
Derivatives
Derivatives have increasingly become very important tools in finance over the last three decades. Many different types of derivatives are now traded actively on ...
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