Interest-rate swaps allow investors and borrowers to switch from a fixed rate to a floating, or variable, rate and vice versa.

息率互换合约[3](Interest Rate Swap)允许投资者和借债人把一个固定利率的合约与一个浮动(可变)利率的合约相交换；同样也允许反向操作。

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Compare this to the failure of Lehman's unregulated credit default swaps and non-cleared interest rate swaps, which triggered chaos in the market because these contracts were not centrally cleared.

相比之下，雷曼未受监管的信贷违约互换和非清算利率互换合约则引发了市场的混乱，因为这些合约没有进行集中清算。

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Reflecting just how complex this market has become, most universities borrow at variable rates and then hedge their interest-rate risk through swaps.

这就反应出了市场变得是多么的复杂，很多大学贷款的比例都不一样，然后通过交换来保护利率风险。

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You and your partner, Warren Buffett, have for years complained and warned about the dangers ve perceived in the modern derivatives markets, particularly credit derivatives, and also concerns about interest rate swaps, currency swaps, and equity swaps.

你和你的合伙人，沃伦，巴菲特,多年来一直提醒现代衍生品市场中,存在的危险，that，you’,尤其是信用衍生品，利率掉期，货币互换和股票互换。

斯坦福公开课 - 经济学课程节选

Open interest used in determining non-spot-month position limits will be based on futures open interest, cleared swaps open interest, and uncleared swaps open interest.

FORBES: CFTC Position Limits Rule Divides Agency, Angers Market Participants

The subliminal message from their questioning of key witnesses seems to be that they will recommend some pretty robust measures to clean up British banking - because they are not convinced that enough has been done after scandals over the mis-selling of Payment Protection Insurance (PPI) and interest swaps to address the problem of serious misconduct.

BBC: Week ahead in committees

George Hundt used to trade interest rate swaps at the midtown Manhattan office of JPMorgan Chase.

FORBES: Life