interest rate swap

== English == === Noun === interest rate swap (plural interest rate swaps, abbreviation IRS) (finance) A contract to exchange the benefit of one interest rate with another. Often a fixed interest rate is exchanged for a variable rate so as to allow one party to remove an exposure to a variable rate for which they pay a premium on the fixed rate in order to compensate for this 'insurance'. The two rates can also be based on different currencies. ==== Translations ==== ==== See also ==== swaption