Overview
This course looks at interest rate swaps in detail. First, swaps in general are introduced, then we will be looking at the structure of the most common type of interest rate swap  the fixed or floating interest rate swap. We will also consider a variety of different structures, pricing and valuation, and applications  both risk management and speculative.
This course contains 20 lectures within 5 sections:
 Introduction to Interest Rate Swaps
 Risk Management of Floating Rate Liabilities
 OTC Clearinghouses
 Swap Pricing and Valuation
 Risk Management with Interest Rate Swaps
Learning Outcomes
At the end of this course, you will be able to...
 Understand pricing interest rate swaps
 Discuss the applications of interest rate swaps
 Explain the features and functions of OTC clearinghouses and how they work
 Evaluate the various risk concerns with interest rate swaps and solutions for risk management
Target Audience
 Relationship managers (05 years) in commercial, corporate and investment banking.
 Analysts and associates in commercial, corporate and investment banking.
Course curriculum

1
Welcome to the course!
 About this course: Overview, Learning Outcomes, Prerequisites & Target Audience FREE PREVIEW
 Course Trailer FREE PREVIEW
 Instructor Bio: Doug Carroll
 Key pointers for success in this course

2
Slack Channel Discussion, Help + More
 Slack Channel (Discussion Forum)
 If (and when) you need help...
 Joining the Alumni Community

3
Introduction to Interest Rate Swaps
 Introduction to Swaps FREE PREVIEW
 Introduction to Swaps (Slides)
 Interest Rate Swap Basics
 Interest Rate Swap Basics (Slides)
 Interest Rate Swap Contract Features
 Interest Rate Swap Contract Features (Slides)

4
Risk Management of Floating Rate Liabilities
 Fixed for Floating Interest Rate Swaps
 Fixed for Floating Interest Rate Swaps (Slides)
 Periodic Settlement Payments on Interest Rate Swaps
 Periodic Settlement Payments on Interest Rate Swaps (Slides)
 Hedging Cash Flow Uncertainty with Interest Rate Swaps
 Hedging Cash Flow Uncertainty with Interest Rate Swaps (Slides)
 Net Interest Cost of a Synthetic Fixed Coupon Bond
 Net Interest Cost of a Synthetic Fixed Coupon Bond (Slides)

5
OTC Clearinghouses
 OTC Clearinghouses
 OTC Clearinghouses (Slides)
 Cleared Swaps Versus OTC Swaps ExClearinghouse
 Cleared Swaps Versus OTC Swaps ExClearinghouse (Slides)
 Functioning of OTC Clearinghouses
 Functioning of OTC Clearinghouses (Slides)

6
Swap Pricing and Valuation
 Terminating a Swap Before Maturity
 Terminating a Swap Before Maturity (Slides)
 Interest Rate Swap Pricing
 Interest Rate Swap Pricing (Slides)
 Pricing Fixed for Floating Interest Rate Swaps
 Pricing Fixed for Floating Interest Rate Swaps (Slides)
 Valuing Swaps, Hedging Cash Flow Uncertainty
 Valuing Swaps, Hedging Cash Flow Uncertainty (Slides)

7
Risk Management with Interest Rate Swaps
 Managing the Cash Flow Risk of Fixed and Floating Rate Assets
 Managing the Cash Flow Risk of Fixed and Floating Rate Assets (Slides)
 Basis Swaps (Fixed Versus Floating Swaps)
 Basis Swaps (Fixed Versus Floating Swaps) (Slides)
 Capital Market Equivalents for the Fixed and Floating Rate Payers
 Capital Market Equivalents for the Fixed and Floating Rate Payers (Slides)
 Value Hedging, Asset Swaps
 Value Hedging, Asset Swaps (Slides)
 Variations in the Structure of Interest Rate Swaps
 Variations in the Structure of Interest Rate Swaps (Slides)
 Structuring and Pricing Basis Swaps
 Structuring and Pricing Basis Swaps (Slides)

8
Quizzes
 Quiz 1
 Quiz 2
 Quiz 3
 Quiz 4
 Quiz 5

9
Final Examination
 Final Examination
 Final Exam: Launch Here

10
Next steps
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