Back-to-Back Swap

(redirected from Back-to-Back Swaps)

Back-to-Back Swap

A swap that reverses the terms of a previously agreed-upon swap. For example, the fixed rate payer in the first swap becomes the floating rate payer in the second swap. This eliminates the need for the two parties to pay each other, since each owes the other the same amount. It is sometimes used in lieu of simply canceling a swap.
References in periodicals archive ?
In addition to wealth income, also contributing to the Company's diversified revenue sources was fee income related to loan level, back-to-back swaps ($2.
Determinations are further complicated when there are back-to-back swaps between related entities.
That Headley 3-year-olds had breakthrough wins in back-to-back Swaps Stakes also makes sense because the trainer practices such patience with young horses, the kind his rivals might push into the winter's Triple Crown prep races.
Morrigan investors have a perfected security interest in the first-tier swaps and all amounts due under the back-to-back swaps as well as the amounts on deposit in the swap collection account, which is the account into which all of the back-to-back swap payments are made.