Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'fixed fixed interest rate swap'?

A. interest rate swap in which both parties pay a fixed interest rate that they could not otherwise obtain outside of a swap arrangement
B. swap in which the periodic payments for one leg are based on an overnight interest rate index multiplied by the same notional amount upon which payments for the other leg of the swap are based
C. interest rate swap in which fixed interest payments on the notional are exchanged for floating interest payments
D. interest rate swap in which the two streams of interest payments are in different currencies

Answer: interest rate swap in which both parties pay a fixed interest rate that they could not otherwise obtain outside of a swap arrangement