Examlex
During the term of a swap, whenever interest rates vary unexpectedly, the swap will develop value for one swap party or the other.
Formal Rule Making
A type of rule-making that is used when legislation requires a formal hearing process with a complete transcript; consists of publication of the proposed rule in the Federal Register, a public hearing, publication of formal findings, and publication of the final rule if adopted.
Ambiguous
Being open to more than one interpretation, meaning, or outcome, often resulting in uncertainty or confusion.
Administrative Law
A branch of public law that governs the activities of administrative agencies of government.
Substantive Rules
Laws that govern how people's rights or duties are to be handled, as opposed to procedural rules which dictate how the legal process is conducted.
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