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Swap Sale

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Swap sale
Also called a swap assignment, a transaction that ends one counterparty's role in an interest rate swap by substituting a new counterparty whose credit is acceptable to the other original counterparty.

Swap Assignment
A swap in which one party pays a leg to the counterparty, then assigns the other leg to a third party. Thus, the first party steps out of the deal, receiving or paying the net amount of the deal. It is also called a swap sale or swap novation.


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