The derivative portfolio has consisted of both regular interest-rate swaps
and structured instruments.
Jones thinks I am misunderstanding Goldman Sachs' motive for engaging in interest-rate swaps
. Goldman Sachs, he writes, is just like your bookie taking a bet on the Notre Dame-Michigan game.
There were $639 trillion in over-the-counter derivatives contracts outstanding as of June 30, while the notional value of interest-rate swaps
totaled $379 trillion, according to the Bank for International Settlements.
The Financial Services Authority (FSA) said Santander UK, Allied Irish Bank, Bank of Ireland, the Co-operative Bank and Clydesdale and Yorkshire banks had agreed to adopt the same approach being used by the UK's biggest banks in offering redress to firms mis-sold interest-rate swaps
Business owners who were mis-sold interest-rate swaps
suffered "a difficult and distressing experience with many people's livelihoods affected", the Financial Services Authority said.
53 to permit the continued use of hedge accounting for interest-rate swaps
and commodity swaps, in the circumstances just described, provided that:
The product, called the NASDAQ OMX Interest Rate Swap (NOIS), is a futures contract for interest-rate swaps
that makes it possible to obtain exposure to the SEK swap curve.
A report on LDI released earlier this year by Russell Investments suggests that the fall-out from the problems experienced by complex mortgage securities might scare plan sponsors away from employing LDI strategies involving derivatives, such as interest-rate swaps
. But the Russell report concludes that over the next five years, adoption of LDI strategies is likely to become widespread as sponsors of pension plans react to the losses they've suffered over the last year.
Dow Jones Newswires (New York; Singapore) has launched 'Dow Jones CommentaryPlus,' a real-time commentary and analysis service focused on the interest-rate swaps
and foreign-exchange options markets in G7 and Asia-Pacific countries.
Many taxpayers enter into interest-rate swaps
to hedge debt instruments.
"They are more likely to see interest-rate swaps
," he said, adding that "they will have the information they need if they focus on FASB statement no.