题目
Which of the following achievable swap positions could be used to transform a floating-rate asset into a fixed-rate asset?
选项
A.Receive the floating-rate leg and receive the fixed-rate leg of a plain vanilla interest-rate swap.
B.Pay the fixed-rate leg and receive the floating-rate leg of a plain vanilla interest-rate swap.
C.Pay the floating-rate leg and pay the fixed-rate leg of a plain vanilla interest-rate swap.
D.Pay the floating-rate leg and receive the fixed-rate leg of a plain vanilla interest-rate swap.
答案
D
解析
The variability in the receipt of payments from the floating-rate asset is eliminated, as the floating payment of the floating rate leg of the swap offsets the receipt of the floating rate on the asset. The floating-rate payer is effectively left with a fixed-rate asset.题目意思是问下面哪个互换可以将一份浮动利息收益的资产转化为固定利息收益的。D选项就是付浮动，收固定的互换。可以理解为相当于付的是之前收到的float-rate asset的收益