Explain a "Diff Swap" as It Relates to Currency Swaps

question 3

Essay

Explain a "diff swap" as it relates to currency swaps.

---

Definitions:

Chattel

Personal property that can be moved from one place to another, such as furniture or vehicles.

Intangible Personal Property

Property that does not have a physical presence but holds value, such as patents, copyrights, trademarks, and financial assets.

Substance

A fundamental or essential component of a matter; often refers to the material from which something is made.

Gift Causa Mortis

A gift made in contemplation of imminent death where the giver transfers personal property to another, with the gift becoming permanent if the giver dies as contemplated.