Are You a Legal Professional?

FINDLAW LEGAL DICTIONARY

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Interest Rate Swap

interest rate swap

a transaction between two parties where each agrees to exchange payments tied to different interest rates for a specified period of time, generally based on a notional principal amount.



Source: U.S. Department of Housing and Urban Development