Zero Basis Risk Swap (ZEBRA)
Updated on 2023-08-29T11:56:12.210890Z
A zero-basis risk swap (ZEBRA), also synonymised as ?perfect swap?, or ?actual rate swap? is an interest rate swap agreement between a municipality (agrees to receive a floating (variable) interest rate on an identified amount of principal from the intermediary) and a financial intermediary (receives a fixed rate of interest)