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| (CCIRS).
| | Receipts On Behalf Of. |
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| A longer term derivative contract which is used to transform longer term interest rate-related obligations or assets in one currency, into another currency.
| | The same as Collections On Behalf Of. |
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| For example, a GBP-based firm with a USD borrowing might use a CCIRS to transform the USD borrowing into a synthetic GBP borrowing.
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| The concept of a CCIRS was developed from the (same-currency) interest rate swap market, which most commonly swaps fixed and floating interest rate streams in the same currency.
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| Same currency interest rate swaps exchange interest flows in the same currency (but calculated on different bases).
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| Cross currency interest rate swaps exchange interest flows denominated in different currencies.
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| Cross currency interest rate swaps usually exchange currency principal amounts at their maturity (unlike same-currency interest rate swaps).
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| Also known as Currency interest rate swap or Foreign currency swap.
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| == See also == | | == See also == |
| * [[Asset-based swap]] | | *[[POBO]] |
| * [[Currency risk]] | | *[[COBO]] |
| * [[Currency swap]]
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| * [[GBP]]
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| * [[Interest rate swap]]
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| * [[Swap]]
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| * [[Synthetic]]
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| * [[USD]]
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| [[Category:Manage_risks]]
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Revision as of 07:34, 11 June 2015
Receipts On Behalf Of.
The same as Collections On Behalf Of.
See also