- swap agreement
- swap agreement
(53B) The term "swap agreement"—(A) means—(i) any agreement, including the terms and conditions incorporated by reference in such agreement, which is—(I) an interest rate swap, option, future, or forward agreement, including a rate floor, rate cap, rate collar, cross-currency rate swap, and basis swap;(II) a spot, same day-tomorrow, tomorrow-next, forward, or other foreign exchange, precious metals, or other commodity agreement;(III) a currency swap, option, future, or forward agreement;(IV) an equity index or equity swap, option, future, or forward agreement;(V) a debt index or debt swap, option, future, or forward agreement;(VI) a total return, credit spread or credit swap, option, future, or forward agreement;(VII) a commodity index or a commodity swap, option, future, or forward agreement;(VIII) a weather swap, option, future, or forward agreement;(IX) an emissions swap, option, future, or forward agreement; or(X) an inflation swap, option, future, or forward agreement;(ii) any agreement or transaction that is similar to any other agreement or transaction referred to in this paragraph and that—(I) is of a type that has been, is presently, or in the future becomes, the subject of recurrent dealings in the swap or other derivatives markets (including terms and conditions incorporated by reference therein); and(II) is a forward, swap, future, option, or spot transaction on one or more rates, currencies, commodities, equity securities, or other equity instruments, debt securities or other debt instruments, quantitative measures associated with an occurrence, extent of an occurrence, or contingency associated with a financial, commercial, or economic consequence, or economic or financial indices or measures of economic or financial risk or value;(iii) any combination of agreements or transactions referred to in this subparagraph;(iv) any option to enter into an agreement or transaction referred to in this subparagraph;(v) a master agreement that provides for an agreement or transaction referred to in clause (i), (ii), (iii), or (iv), together with all supplements to any such master agreement, and without regard to whether the master agreement contains an agreement or transaction that is not a swap agreement under this paragraph, except that the master agreement shall be considered to be a swap agreement under this paragraph only with respect to each agreement or transaction under the master agreement that is referred to in clause (i), (ii), (iii), or (iv); or(vi) any security agreement or arrangement or other credit enhancement related to any agreements or transactions referred to in clause (i) through (v), including any guarantee or reimbursement obligation by or to a swap participant or financial participant in connection with any agreement or transaction referred to in any such clause, but not to exceed the damages in connection with any such agreement or transaction, measured in accordance with section 562; and(B) is applicable for purposes of this title only, and shall not be construed or applied so as to challenge or affect the characterization, definition, or treatment of any swap agreement under any other statute, regulation, or rule, including the Gramm-Leach-Bliley Act, the Legal Certainty for Bank Products Act of 2000, the securities laws (as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934) and the Commodity Exchange Act.
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.
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Master Swap Agreement — A basic, standardized swap contract created by the International Swaps and Derivatives Association in the late 1980s. The standard agreement identifies the two parties entering the transaction; describes the terms of the arrangement, such as… … Investment dictionary
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swap participant — Under Title 11 U.S.C. Section 101: (53C) The term swap participant means an entity that, at any time before the filing of the petition, has an outstanding swap agreement with the debtor. United Glossary of Bankruptcy Terms 2012 … Glossary of Bankruptcy
Agreement Value Method — The most common of three official methods established by the International Swaps and Derivatives Association for calculating termination payments on a prematurely ended swap. The agreement value method is based on the terms available for a… … Investment dictionary
Swap Dealer — An individual who acts as the counterparty in a swap agreement for a fee called a spread. Swap dealers are the market makers for the swap market. The spread represents the difference between the wholesale price for trades and the retail price.… … Investment dictionary
swap — / swäp/ n 1: an exchange of securities 2: a derivative contract in which two parties (as corporations) agree to exchange rates esp. relating to debt Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
swap confirmation — USA trade confirmation, Also known as a swap confirmation, or simply a confirmation. A document which parties to a derivatives transaction use to specify the commercial terms of the transaction, including pricing terms such as spreads. A… … Law dictionary
swap — (v.) c.1300, to strike, strike the hands together, possibly imitative of the sound of hitting. The sense of exchange, barter, trade is first recorded 1590s, possibly from the practice of slapping hands together as a sign of agreement in… … Etymology dictionary
swap — (also swop) ► VERB (swapped, swapping) ▪ exchange or substitute. ► NOUN ▪ an act of exchanging one thing for another. ORIGIN originally in the sense «throw forcibly», later «strike hands as a token of agreement»: probably imitative … English terms dictionary
Swap (finance) — For the Thoroughbred horse racing champion, see: Swaps (horse).In finance, a swap is a derivative in which two counterparties agree to exchange one stream of cash flows against another stream. These streams are called the legs of the swap.The… … Wikipedia