Definition for : Interest rate swap rate, IRS rate
GLOSSARY LETTER
The Interest rate Swap rate is one of the main reference rates. The convention in the Market is for the Swap Market makers to set the floating side – normally at EURIBOR – and then quote the fixed rate that is payable for that Maturity.
(See Chapter 47 Leveraged buyouts (LBOs) of the Vernimmen)
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