Suppose the Quote for a Five-Year Swap with Semiannual Payments

question 31

Multiple Choice

Suppose the quote for a five-year swap with semiannual payments is 8.50-8.60 percent.This means

• A)the swap bank will pay semiannual fixed-rate dollar payments of 8.60 percent against receiving six-month dollar LIBOR.
• B)the swap bank will receive semiannual fixed-rate dollar payments of 8.50 percent against paying six-month dollar LIBOR.
• C)if the swap bank is successful in getting counterparties to both legs of the swap at these prices, he will have an annual profit of ten basis points.
• D)none of the above

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Definitions:

Corporate Executives

High-level managers or officers within a corporation responsible for making strategic decisions, guiding direction, and ensuring operations align with company goals.

Profit Centers

Divisions or branches of a business that are directly responsible for generating its income and are evaluated based on their profitability.

Sales

The transaction where a product is swapped for financial compensation; engaging in the act of selling an item.

Costs

Costs related to producing goods or services, comprising materials, labor, and overhead costs.