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| cross currency swap ： ウィキペディア英語版 |
cross currency swap
A cross currency swap, also referred to as cross currency interest rate swap,〔 is an agreement between two parties to exchange interest payments and principals denominated in two different currencies.〔
== Structure ==
It is best to explain the structure of a cross currency swap with an example.
The chart ((click here )) illustrates the flow of funds involved in a typical EUR/USD cross currency swap. At the start of the contract, A borrows X·S USD from B, and lends X EUR to B. During the contract term, A receives EUR 3M Libor + α from, and pays USD 3M Libor to, B every three months, where α is called the cross currency basis or cross currency spread, and is agreed upon by the counterparties at the start of the contract. At the maturity of the contract, A returns X·S USD to B, and B returns X EUR to A, where S is the same FX spot rate as of the start of the contract.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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