In Difficult Rate Climate, Banks Tailoring Libor Swaps

McDonald, Michael
May 2004
Bond Buyer;5/18/2004, Vol. 348 Issue 31886, p5
Trade Publication
Reports on the points saved by the California Housing Finance Agency on Libor-based swaps using a formula based on historic variable tax-exempt interest rates in California. Sophistication of the municipal derivatives market; Prevention of the losses faced by other issuers on Libor-based swaps; Products developed by banks to address problems with rate compression.


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