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Hazell v Hammersmith and Fulham LBC [1992] 2 AC 1 is an English administrative law case, which declared that local authorities had no power to engage in interest rate swap agreements because they were beyond the council's borrowing powers, and that all the contracts were void. [1]
Hammersmith and Fulham, where the genesis of the local authorities swaps litigation began.. The local authorities swaps litigation (sometimes called simply the swaps cases [1]) refers to a series of cases during the 1990s under English law relating to interest rate swap transactions entered into between banks and local authorities. [2]
A constant maturity swap (CMS) is a swap that allows the purchaser to fix the duration of received flows on a swap. An amortizing swap is usually an interest rate swap in which the notional principal for the interest payments declines during the life of the swap, perhaps at a rate tied to the prepayment of a mortgage or to an interest rate ...
“Exercise is a great way for me to unwind. I used to do a lot of yoga and have recently started doing Reformer Pilates, which I really enjoy. Having said that, my favorite way to unwind is to cook.
Fed Chairman Ben Bernanke argued in March 2009: "If a federal agency had had such tools on September 16 [2008], they could have been used to put AIG into conservatorship or receivership, unwind it slowly, protect policyholders, and impose haircuts on creditors and counterparties as appropriate. That outcome would have been far preferable to the ...
An equity swap is a financial derivative contract (a swap) where a set of future cash flows are agreed to be exchanged between two counterparties at set dates in the future. [1] The two cash flows are usually referred to as "legs" of the swap; one of these "legs" is usually pegged to a floating rate such as LIBOR .
In last week’s column I quoted the great Anglo-American poet T.S. Eliot: “Not least of the effects of industrialism is that we become mechanized in mind, and consequently attempt to provide ...
Instead, swap these high-added-sugar, high-fat drinks for healthier alternatives like flavored seltzer waters, homemade coffee drinks or ice cream shakes, and limit alcoholic cocktails.