A swap leg, normally floating, where the currency denominating the notional principal (NPA) upon which the floating payments are based is not the currency of the reference index. For example, the notional principal could be denominated in Japanese yen (JPY), while the reference index is the US dollar LIBOR.
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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