# Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance), Article 330: Swaps

Extent: E+W+S+N.I.

Swaps shall be treated for interest-rate risk purposes on the same basis as on-balance-sheet instruments. Thus, an interest-rate swap under which an institution receives floating-rate interest and pays fixed-rate interest shall be treated as equivalent to a long position in a floating-rate instrument of maturity equivalent to the period until the next interest fixing and a short position in a fixed-rate instrument with the same maturity as the swap itself.

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Source: https://www.legislation.gov.uk/eur/2013/575/article/330 (the official version)
Page: https://openlegislation.uk/eu-regulation-2013-575/article-330
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.