Understanding Interest Rate Swaps

Hardcover | May 22, 1993

byMary Ludwig

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Interest rate swaps-used globally by both corporate finance departments and investment firms to control interest payments, manage debt, and enhance investment portfolios-constitute a growing $1.9 trillion market. Now, financial personnel, swap traders, corporate treasurers, and professional cash managers can turn to this clear, authoritative guide to master all the methodologies used in the international swap market. Written for anyone whose work is touched by swap market activity, the guide uses diagramming techniques to first explain what swaps are, and how and why they are traded. It then addresses more sophisticated financial transactions, such as rate setting, analysis of swap desks, market-to-market, speculating, and financial statements. Readers will find detailed coverage of more than two dozen derivative products, including spreadlocks, swaptions, caps, and flows, and learn how swap trading works in foreign currencies and interest rates. Critical light is also shed on questions regulators are currently raising about the security and future of the swaps markets.

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From Our Editors

Across the globe, professional cash, treasury, and portfolio managers, as well as government regulators, are scrutinizing Swaps - innovative, easily customized synthetic investment vehicles that permit savvy users to fine-tune interest rate and currency exposure, manage debt, hedge against geopolitical uncertainty, and dramatically enh...

From the Publisher

Interest rate swaps-used globally by both corporate finance departments and investment firms to control interest payments, manage debt, and enhance investment portfolios-constitute a growing $1.9 trillion market. Now, financial personnel, swap traders, corporate treasurers, and professional cash managers can turn to this clear, authori...

From the Jacket

Across the globe, professional cash, treasury, and portfolio managers, as well as government regulators, are scrutinizing Swaps - innovative, easily customized synthetic investment vehicles that permit savvy users to fine-tune interest rate and currency exposure, manage debt, hedge against geopolitical uncertainty, and dramatically enh...

Format:HardcoverDimensions:320 pages, 9.1 × 6.2 × 1.1 inPublished:May 22, 1993Publisher:McGraw-Hill Education

The following ISBNs are associated with this title:

ISBN - 10:0070390207

ISBN - 13:9780070390201

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Table of Contents

What is a SWAP? History of the SWAP Market.How Rates are Set.Financial Institutions and Credit.Executing a SWAP.Accounting and Financial Statement Considerations.Unwinding a SWAP.Some Refinements in SWAP Pricing.Hedging vs.Speculation.Other Derivative Products.Other Types of Interest Rate SWAPS.Other Types of SWAPS.Future of the SWAP Market.

From Our Editors

Across the globe, professional cash, treasury, and portfolio managers, as well as government regulators, are scrutinizing Swaps - innovative, easily customized synthetic investment vehicles that permit savvy users to fine-tune interest rate and currency exposure, manage debt, hedge against geopolitical uncertainty, and dramatically enhance investment portfolio returns. Understanding Interest Rate Swaps presents a clear and compelling picture of the growing $3 trillion Swap market. This hands-on guide keeps readers immediately current with the latest, successful strategies and techniques used by today's top Swap traders and corporate users. And it takes market watchers on a behind-the-scenes tour of the global Swap bazaar, shedding critical light on questions regulators and industry insiders are currently raising about the security and future of the Swap markets. This striking new guide first explains what Swaps are, introducing key concepts and crucial market terminology. It next traces the development of today's red-hot Swaps, disclosing how they originated and g