This section allows cross-market comparisons.
Glossary Definition
Interest Rate Swap

An agreement between two parties (known as counterparties) where one stream of future interest payments is exchanged for another, based on a specified principal amount. Interest rate swaps often exchange a fixed payment for a floating payment, is linked to a floating interest rate (most often the LIBOR). A company will typically use interest rate swaps to limit, or manage, its exposure to fluctuations in interest rates, or to obtain a marginally lower interest rate than it would have been able to get without the swap.