Three Against Six Agreement Assignment

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    Three Against Six Agreement Assignment

    Three Against Six Agreement Assignment Northern Rock Bank (the seller) entered into a “three against six” FRA with Southern Cross Bank (the buyer). Assume that: Notional Amount = $4,000,000 Settlement Rate (SR) (i.e., three-month market LIBOR) = 5% Agreement Rage (AR) = 6% Actual number of days in the three-month agreement period = 91 rev: 05_17_2018_QC_CS-127292 Multiple Choice Northern Rock Bank will pay Southern Cross Bank a cash settlement at the end of the 91-day FRA period. Northern Rock Bank will pay Southern Cross Bank a cash settlement at the beginning of the 91-day FRA period. Southern Cross Bank will pay Northern Rock Bank a cash settlement at the beginning of the 91-day FRA period. Southern Cross Bank will pay Northern Rock Bank a cash settlement at the

    Three Against Six Agreement Assignment

    Northern Rock Bank (the seller) entered into a “three against six” FRA with Southern Cross Bank (the buyer).
    Assume that:
    Notional Amount = $4,000,000
    Settlement Rate (SR) (i.e., three-month market LIBOR) = 5%
    Agreement Rage (AR) = 6%
    Actual number of days in the three-month agreement period = 91
    rev: 05_17_2018_QC_CS-127292
    Multiple Choice

    • Northern Rock Bank will pay Southern Cross Bank a cash settlement at the end of the 91-day FRA period.
    • Northern Rock Bank will pay Southern Cross Bank a cash settlement at the beginning of the 91-day FRA period.
    • Southern Cross Bank will pay Northern Rock Bank a cash settlement at the beginning of the 91-day FRA period.
    • Southern Cross Bank will pay Northern Rock Bank a cash settlement at the end of the 91-day FRA period. Get Custom Essay Writing help today