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In your lecture related to Interest swaps, I could very well understand the concept. However, I could not find how the interest swap calculations are performed in the case of intermediaries like Bank.
I could find questions/separate topic in Kaplan which reads as follows- “Calculation involving swap quotes from intermediaries”. In this topic they have discussed about ‘ask rate’ & ‘bid rate’ followed by illustration & questions. I could not understand their working.
Could you please confirm if it is examinable, if yes, please explain.
No past exam question on swaps has ever required more than what is explained in my lectures 🙂