Zero Basis Risk Swap

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Zero Basis Risk Swap

An interest rate swap between a municipality and a financial institution. The municipality is the fixed rate payer and the financial institution is the floating rate payer. The floating rate the financial institution pays (and that the municipality receives) is identical to the adjustable interest rate on a floating rate note that the municipality previously issued. A ZEBRA makes a municipality's borrowing costs more predictable and therefore reduces its risk.
References in periodicals archive ?
Knowing how the plains zebras are alike and different on a genetic level could help experts better focus their conservation efforts, which look to preserve zebras in the face of habitat loss.
Initially, we will be adding STREAM, our multi award-winning delivery and transport management application to Zebras portfolio of transportation and logistics apps.
After they came down, researchers began tracking zebras with GPS and discovered this migration.
For instance, one reason people hunt the zebras is to make traditional medicines from their body fat.
Long ago there was a zebra who lived in a beautiful green jungle.
It is a prospect that you know you can win based on identifiable, objective characteristics--and Zebras are the only prospects a salesperson should pursue.
First, two zebras appeared about 80 yards out on the sun-baked mud flat followed by a third.
While Grevy's zebras are still threatened by poaching and livestock competition throughout their range, the success in Kalama bodes well for current and future awareness-raising efforts.
Plains zebras are found on the grasslands of eastern and southern Africa.
Lines from many zebras become a giant blur to the lion.
Researchers say that at one time more than 13,000 of the zebras were recorded in northern Kenya.
Instead of galloping around aloes and slurping from a pond flanked by papyrus plants, the two young zebras huddled together in the back corral Thursday morning, warily eyeing visitors.