A Payer's 3-Month USD LIBOR Swap with a Remaining Term

question 324

Multiple Choice

A payer's 3-month USD LIBOR swap with a remaining term of five years must be reported as:

• A) a five-year liability and a three-month asset
• B) a five-year asset and a three-month liability
• C) a five-year asset only
• D) a three-month liability only

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Definitions:

Privative Clauses

Legal provisions aimed at limiting or excluding the jurisdiction of judicial review over decisions made by administrative bodies.

Parliamentary Supremacy

The principle that the legislative body of a country has the highest authority over all other governmental institutions, including the judiciary.

Supervising Government Decision Makers

The oversight of individuals or bodies that make policy and regulatory decisions within the government framework.

Writ of Certiorari

A court order that requests the lower court to deliver its record in a case so the higher court can review it.