利率互换,也称利率掉期,是指交易双方约定在未来—定期限内,根据约定数量的名义本金和利率来交换利息额的交易行为。在互换交易中,一方的支付额依据浮动利率指数计算,另一方的支付额则依据固定利率或是另一种浮动利率指数计算,且通常仅支付双方应付利息额的轧差值,而并不发生本金的交换。 Interest rate swaps, also known as interest rate swaps, are transactions in which the parties to the transaction agree to exchange interest on the agreed nominal principal and interest rates in the future within a fixed period of time. In a swap transaction, one party’s payment is based on a floating rate index and the other is based on a fixed rate or another floating rate index, and usually only pays the difference between the interest payable by the parties, and No principal exchange occurs.