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Wednesday, March 14, 2001
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Stanchart's five-year interest rate swap

MUMBAI: Standard Chartered Bank has transacted the first five year interest rate swap (IRS) benchmarked against the one year swap rate for Rs. 25 crores. This is the longest tenor rupee interest rate swap dealt in the Indian market against this benchmark, Standard Chartered said in release. The counter party for the deal was Industrial Development Bank of India, it added. Earlier in the week, Stanchart had transacted a three year deal with another foreign bank against the O/N Mibor benchmark.

- PTI

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