Common Contracts

Interest Rate Exchange Agreement Policy

Exchange Agreement • July 25th, 2013

• Contract Type
  Exchange Agreement
• Filed
  July 25th, 2013

This policy governs the use by the City of New York (the “City”) of Interest Rate Exchange Agreements. “Interest Rate Exchange Agreement” or “Derivative” shall mean a written contract between the City and a counterparty, entered into in connection with the issuance of City debt or in connection with City debt already outstanding, to provide for an exchange of payments based upon fixed and/or variable interest rates. The failure by the City to comply with any provision of this policy will not invalidate or impair any Interest Rate Exchange Agreement.