'Foreign exchange swap' means a derivative contract that solely involves:

 

i. an exchange of two different currencies on a specific date at a fixed rate that is agreed at the inception of the contract covering the exchange; and

 

ii. a reverse exchange of the two currencies at a later date and at a fixed rate that is agreed at the inception of the contract covering the exchange.

 

 

 

 

 

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    Links    

 

 

 

EMIR and BCBS-IOSCO legal frameworks for collateral