A swap is a method used to reduce financial risk
A swap is a method used to reduce financial risk. Which of the following statements about swaps, if any, is NOT CORRECT?
|[removed]||A swap involves the exchange of cash payment obligations.|
|[removed]||The earliest swaps were currency swaps, in which companies traded debt denominated in different currencies, say dollars and pounds.|
|[removed]||Swaps are very often arranged by a financial intermediary, who may or may not take the position of one of the counterparties.|
|[removed]||A problem with swaps is that no standardized contracts exist, which has prevented the development of a secondary market.|
|[removed]||Swaps can involve side payments in order to get the counterparty to agree to the swap.|
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