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• An agreement between two parties to exchange cash flows of underlying securities. For example, in an interest rate swap, a common type of swap, one party agrees to pay a fixed interest rate in return for receiving a variable rate from the other party.

  Federal Housing Finance Agency, Office of Inspector General - Cite This Source - This Definition
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  Cite Definition for Swap

  American Psychological Association (APA)

  Swap. (n.d.). Federal Housing Finance Agency Glossary of Terms. Retrieved March 28, 2023, from website: http://www.expertglossary.com/definition/swap.

  Chicago Manual of Style (CMS)

  Swap. fhfaoig.gov. Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. http://www.expertglossary.com/definition/swap (accessed: March 28, 2023).

  Modern Language Association (MLA)

  "Swap." Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. 28 March. 2023 http://www.expertglossary.com/definition/swap.

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