What is US swap rate?

The swap rate serves as a pivotal element in the realm of financial derivatives, specifically in interest rate swaps. It represents a predetermined interest rate that underpins the computation of fixed payments exchanged between counterparties.

These swaps constitute a sophisticated financial arrangement, allowing participants to manage their exposure to varying interest rate environments. By entering into such contracts, entities can tailor their financing costs or investment returns to suit their strategic objectives.

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The CORE feature of an interest rate swap lies in the exchange of interest rate cash flows. The parties involved agree to swap these flows, often based on a notional principal amount, without actually exchanging the principal itself.