New satellite images shared exclusively with The Economist show how a swap by Iran helped calm a crisis https://econ.st/3UgCUX9
Photo: AP
Banks in the first countries to be given swap lines sometimes lent their dollars to other banks elsewhere, helping to alleviate the dollar shortage globally
Iran will ask Japan to mediate between Tehran and Washington to ease oil sanctions imposed by the United States, Iranian officials said ahead of a visit by Japanese Prime Minister Shinzo Abe.
Marriott hotel chain to swap out towels made overseas for those made in America. abcn.ws/1rglScz
UBS Is Said to Be Near Deal in Rate-Rigging Investigation
By BEN PROTESS and MARK SCOTT
The Swiss banking giant UBS is expected to pay American and British
fines of more than $450 million to settle claims that it reported false
rates to increase its profit, officials briefed on the matter said.
Banker Accounts On Libor Conflict
A
recently departed Barclays executive said he was following orders from
his boss and regulators when he instructed deputies to understate the
British bank's borrowing costs in 2008, a statement that could intensify
the political storm over top British officials' role in the
interest-rate-rigging scandal.
Deutsche Bank Awaits Verdict in Swaps Case
Germany's highest court is expected to rule Tuesday whether Deutsche Bank misled hundreds of municipal clients and small companies about the risks of interest-rate swaps.
China Unicom to Buy China Netcom
China revealed details of its telecom-industry restructuring, with China Unicom buying China Netcom in a $24 billion share swap.
FULL STORY
China Merges Unicom,
Netcom in Revamp
revamp
swap (-pp-), UK ALSO swop (-pp-)
verb [I or T]
to give something and be given something else instead; to exchange:
When you've finished reading your book, and I've finished mine, shall we swap?
We swapped addresses with the people we met on holiday.
When he got a job in a bank, he had to swap his jeans and T-shirt for a suit (= he had to wear formal clothes instead of informal ones).
[+ two objects] I'll swap you my chocolate bar for your peanuts.
We spent the evening in the pub, swapping (= telling each other) stories/jokes.
swap, UK ALSO swop
noun [C]
an exchange, or something that is going to be or has been exchanged:
I thought Simon's food looked nicer than mine, so we did a swap.
This comic is a swap (= something that was exchanged) that I got from Nick.
Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank.[1][2] In a liquidity swap, the lending central bank uses its currency to buy the currency of another borrowing central bank at the market exchange rate, and agrees to sell the borrower's currency back at a rate that reflects the interest accrued on the loan. The borrower's currency serves as collateral.
通貨スワップ協定（つうかスワップきょうてい）とは、各国の中央銀行が互いに協定を結び、自国の通貨危機の際、自国通貨の預入や債券の担保等と引き換えに一定のレートで協定相手国の通貨を融通しあうことを定める協定のこと。中央銀行間の協定であり国家間条約ではない。通貨スワップ取極（-とりきめ）、スワップ協定、通貨交換協定とも呼ばれる。
verb [I or T]
to talk to two separate people or groups involved in a disagreement to try to help them to agree or find a solution to their problems:
Negotiators were called in to mediate between the two sides.
The two envoys have succeeded in mediating an end to the war.
mediation
noun [U]
Last-minute attempts at mediation failed.
share swap ( swop), mediate
Israel and Hezbollah set for swap
Israel and the Lebanese militant group Hezbollah prepare to exchange prisoners under a UN-mediated deal.China Unicom to Buy China Netcom
China revealed details of its telecom-industry restructuring, with China Unicom buying China Netcom in a $24 billion share swap.
FULL STORY
China Merges Unicom,
Netcom in Revamp
revamp
swap (-pp-), UK ALSO swop (-pp-)
verb [I or T]
to give something and be given something else instead; to exchange:
When you've finished reading your book, and I've finished mine, shall we swap?
We swapped addresses with the people we met on holiday.
When he got a job in a bank, he had to swap his jeans and T-shirt for a suit (= he had to wear formal clothes instead of informal ones).
[+ two objects] I'll swap you my chocolate bar for your peanuts.
We spent the evening in the pub, swapping (= telling each other) stories/jokes.
swap, UK ALSO swop
noun [C]
an exchange, or something that is going to be or has been exchanged:
I thought Simon's food looked nicer than mine, so we did a swap.
This comic is a swap (= something that was exchanged) that I got from Nick.
Central bank liquidity swap is a type of currency swap used by a country's central bank to provide liquidity of its currency to another country's central bank.[1][2] In a liquidity swap, the lending central bank uses its currency to buy the currency of another borrowing central bank at the market exchange rate, and agrees to sell the borrower's currency back at a rate that reflects the interest accrued on the loan. The borrower's currency serves as collateral.
通貨スワップ協定（つうかスワップきょうてい）とは、各国の中央銀行が互いに協定を結び、自国の通貨危機の際、自国通貨の預入や債券の担保等と引き換えに一定のレートで協定相手国の通貨を融通しあうことを定める協定のこと。中央銀行間の協定であり国家間条約ではない。通貨スワップ取極（-とりきめ）、スワップ協定、通貨交換協定とも呼ばれる。
mediate
verb [I or T]
to talk to two separate people or groups involved in a disagreement to try to help them to agree or find a solution to their problems:
Negotiators were called in to mediate between the two sides.
The two envoys have succeeded in mediating an end to the war.
mediation
noun [U]
Last-minute attempts at mediation failed.
An agreement between two parties (known as counterparties) where one stream of future interest payments is exchanged for another based on a specified principal amount. Interest rate swaps often exchange a fixed payment for a floating payment that is linked to an interest rate (most often the LIBOR). A company will typically use interest rate swaps to limit or manage exposure to fluctuations in interest rates, or to obtain a marginally lower interest rate than it would have been able to get without the swap.
Investopedia Says:
Interest rate swaps are simply the exchange of one set of cash flows (based on interest rate specifications) for another. Because they trade OTC, they are really just contracts set up between two or more parties, and thus can be customized in any number of ways.
Generally speaking, swaps are sought by firms that desire a type of interest rate structure that another firm can provide less expensively. For example, let's say Cory's Tequila Company (CTC) is seeking to loan funds at a fixed interest rate, but Tom's Sports Inc. (TSI) has access to marginally cheaper fixed-rate funds. Tom's Sports can issue debt to investors at its low fixed rate and then trade the fixed-rate cash flow obligations to CTC for floating-rate obligations issued by TSI. Even though TSI may have a higher floating rate than CTC, by swapping the interest structures they are best able to obtain, their combined costs are decreased - a benefit that can be shared by both parties.
rigging
- rig • ging
- 発音
- rígiŋ
[名][U]
1 ((通例 the〜))（船の）索具装置（ロープ, 鎖類一式）.
2 （一般に）仕度, 仕掛け；索具の巻き上げ.
3 （選挙の）不正工作.
4 ((略式))衣服, 衣類.
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