One party pays fixed-rate interest on the notional amount agreed when the contract is made, and the other party pays floating-rate interest on the same notional amount. "Swap" means exchange, and a trade that exchanges future cash flows is called a swap.
Interest rate swap
- Japanese
- 金利スワップ
- Also known as
- IRS
- Last reviewed
- September 23, 2026
This is a draft, shown for review before publication.
An interest rate swap is a trade in which two parties exchange fixed-rate interest for floating-rate interest on the same notional amount in the same currency.
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- Zero Rates and Forward Rates
- Day Count Conventions
- Business Day Conventions and Holiday Calendars
- Bootstrapping a Yield Curve
- The Multi-Curve Framework
- Dealers and Brokers
- How Corporates Use Derivatives
- How Institutional Investors Use Derivatives
- How Regional Banks Use Derivatives
- How Hedge Funds Use Derivatives
- Market Size Statistics (BIS Surveys)
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- What Is a Derivative?
- How Swaps Work
- Exercise Styles: European, American and Bermudan
- Forward Rate Agreements (FRA)
- Interest Rate Futures
- Valuing an Interest Rate Swap
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- Overview of Exotic Rate Products
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- Identifiers: LEI, UTI, and UPI
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- Fair Value Measurement: IFRS 13, ASC 820 and the Fair Value Hierarchy
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- Hedge Accounting Basics
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- Japanese GAAP vs IFRS vs US GAAP
- Disclosures in the Notes
- Transfer Pricing for Cross-Border Trades
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- Overview of Market Infrastructure
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- Japan's Derivatives Regulation at a Glance
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- The Standardized Approach for Counterparty Credit Risk (SA-CCR)
- Overview of Derivatives Regulation in Asia-Pacific
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