Advantages of swap_ACCA考试FM知识点

Advantages of swap_ACCA考试FM知识点来啦！2021年ACCA考试时间越来越近，小编为大家整理了Advantages of swap_ACCA考试FM知识点，希望能够帮助到大家。

【科目】

ACCA-FM

【知识点】

Advantages of swap

Advantages of swap

·Why not terminate the original borrowing? – Saving transaction costs （termination fee, issue cost）. A bank normally arranges the swap and charge an arrangement fee, which is much lower than transaction cost.

·Swaps can be used to hedge against an adverse movement in interest rates. Say a company has a ￡200m floating loan and the treasurer believes that interest rates are likely to rise over the next five years. He could enter into a five-year swap with a counter party to swap into a fixed rate of interest for the next five years. From year six onwards, the company will once again pay a floating rate of interest.

·A swap can be used to obtain cheaper finance. A swap should result in a company being able to borrow what they want at a better rate under a swap arrangement, than borrowing it directly themselves.

以上就是小编为大家整理的Advantages of swapACCA考试FM知识点了，希望大家能够认真学习，倒计时，预祝到家顺利通过ACCA考试。

注：以上内容来自Tracy老师基础班班

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