There are three different ways in which currency swaps can exchange loans:

This type of currency swap is also known as an FX-swap.

The company further disclosed during its interim results in October 1999, that it had lost nearly 17 billion from interest rate and currency swaps.

But the same cannot be said of the markets in such highly complex areas as interest-rate and currency swaps.

"But if the banks are bankrupt at the end of the period they won't make good on any of the currency swaps."

The United States arranged currency swaps and loan guarantees with a $20 billion total value.

These include such products as interest-rate and currency swaps, and other derivatives.

Currency swaps are similar but have a different VAT treatment.

Currency swaps provide both a currency and interest hedge.

A currency swap should be distinguished from a central bank liquidity swap.

Foreign-traded instruments include currency swaps, commodities futures, and foreign bonds.

The bank has also expanded its middle-market offerings to include interest-rate and currency swaps.

At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.

Just like interest rate swaps, the currency swaps are also motivated by comparative advantage.

Many East Germans are afraid that these would be undercut or sharply reduced in a currency swap.

A currency swap occurs when two parties sell each other currencies and agree to re-exchange the principal at a later date.

This risk, however, can be reduced or eliminated through currency swaps or other hedging transactions.

Currency swaps are motivated by comparative advantage.

However, unlike interest rate swaps, currency swaps can involve the exchange of the principal.

Derivatives like interest rate and currency swaps allow investors to bet on market moves with virtually no upfront cash.

The rest consisted of currency swaps, in which interest payments denominated in foreign currencies are exchanged.

Currency swaps have two main uses:

Constant maturity swaps can either be single currency or cross currency swaps.

Currency swaps aren't new.

"These guys don't make it into newspaper stories for their four-legged currency swaps," said Mr. Goldstein.