Question: The term interest rate swap can be fixed-for-floating rate or floating-for-floating rate. involves counterparties who make a contractual agreement to exchange cash flows at periodic

The term interest rate swap

can be "fixed-for-floating rate" or "floating-for-floating rate."
involves "counterparties" who make a contractual agreement to exchange cash flows at periodic intervals.
all of the options
refers to a "single-currency interest rate swap" shortened to "interest rate swap."

An offshore banking center is

is external to any government, frequently located on old oil drilling platforms located in international waters.
a country like North Korea.
none of the options
a country whose banking system is organized to permit external accounts beyond the normal economic activity of the country.

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