circus swap

Definition

A type of currency swap in which loans in one currency with a fixed-rate are swapped for loans in another other currency with a floating rate. The floating rate in a currency swap is often a floating U.S. LIBOR payment. The "circus" part of the swap stands for Combined Interest Rate and CUrrency Swap. also called cross-currency swap, currency coupon swap.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
circulation of capital Citibank