A right to buy or sell currency, not an obligation.
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Interest Rate Swap- IRS, is an agreement between two counter parties to exchange fixed rate interest payments for floating rate interest payments or vice versa, calculated using an agreed notional principal amount.
Swaps are contractual agreements to exchange or swap a future stream of cash flows.
Any customer who is holding a proper underlying transactions and having a good understanding about products in this nature is eligible to apply for Interest Rate Derivatives.
Please contact the Treasury Dealing Room on +94 112 486 325 for more details.
The Seller of the Cap agrees to compensate the Buyer, whenever a reference interest rate (e.g. LIBOR) exceeds a pre-agreed level (Cap Rate) for a period at specified intervals. Premium is payable upfront and calculated using an agreed notional principal amount.
The Seller of the Fllor agrees to compensate the Buyer, whenever a reference interest rate (e.g. LIBOR) fixes below a pre-agreed level (Floor Rate) for a period at specified intervals. Premium is payable upfront and calculated using an agreed notional principal amount.
Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.
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