USD CMS 2y definition

USD CMS 2y means the rate for fixed float interest rate swaps in USD for a period of 2 years which appears on the Reuters Page ISDAFIX1 as of 11 am New York time on each calendar day. In case a calendar day is not a Business Day, the relevant rate is the rate displayed on the ISDAFIX1 page on the Business Day immediately prior to such calendar day.
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USD CMS 2y means the rate for fixed float interest rate swaps in USD for a period of 2 years which appears on theReuters Page ISDAFIX1 as of 11 am New York time on each calendar day. In case a calendar day is not a Business Day, the relevant rate is the rate displayed on the ISDAFIX1 page on the Business Day immediately prior to such calendar day. Provided that, in respect of each Accrual Period and each of USD CMS 30y and USD CMS 2y, the relevant Reference Spread determined in respect of each of the calendar days during the period one week prior to end of the relevant Accrual Period shall be fixed on the fifth Business Day prior to the end of such Accrual Period. Disruption Provisions: If on a Business Day during the Accrual Period, a Reference Rate or 3-month USD- LIBOR-ICE does not appear on the relevant Reuters page LIBOR01, the rate for that day will be determined as if the parties had specified "USD-LIBOR-Reference Banks" as the applicable Floating Rate Option (as defined in the ISDA Definitions).If on a Business Day during the Accrual Period the rate used for a Reference Spread is not published, on the relevant fixing page for such rate used for the Reference Spread or is otherwise not available, the Calculation Agent will determine such rate or Reference Spread by reference to the “USD-CMS-Reference Banks” as the applicable Floating Rate Option.
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USD CMS 2y means, in respect of the relevant Calculation Period, the USD-ISDA-Swap Rate with a maturity of two (2) years, expressed as a percentage, which appears on the Reuters Screen ICESWAP1 Page (or any successor page to that page) as of 11:00 a.m. (New York City time) on the relevant Interest Determination Date, as determined by the Calculation Agent.
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More Definitions of USD CMS 2y

USD CMS 2y means the rate for fixed-for-floating interest rate swaps in USD with a maturity of 2 years, expressed as a percentage, which appears on the Reuters Page ICESWAP1 as of 11 am New York time on the Floating Rate Payer Determination Date;
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USD CMS 2y means USD 2 YR Swap Rate (quoted on an semi- annually, 30/360 day basis) versus 3 month USD Libor (quoted on a quarterly, Act/360 basis) as quoted on Reuters Page
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USD CMS 2y means, in respect of each calendar day falling within an Interest Accrual Period, the rate for USD swaps with a maturity of 2 years, expressed as a percentage, whichappears on the Reuters Screen ICESWAP1 Page as of 11:00 a.m., New York City time, on such calendar day. If such rate does not appear on the Reuters Screen ICESWAP1 Page, the USD CMS 2y rate for such calendar day will be a percentage determined on the basis of the mid-market semi- annual swap rate quotations provided by the Reference Banks at approximately 11:00 a.m., New York City time, on such calendar day, and, for this purpose, the semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-for-floating USD interest rate swap transaction with a term equal to 2 years commencing on such calendar day and in a Representative Amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on an Actual/360 day count basis, is equivalent to USD-LIBOR-BBA (as defined in the ISDA Definitions) with a Designated Maturity (as defined in the ISDA Definitions) of three months. The Calculation Agent will request the principal New York City office of each of the Reference Banks to provide a quotation of its rate. If at least three quotations are provided, the rate for such calendar day will be the arithmetic mean of the quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest).
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USD CMS 2y means the rate for fixed float interest rate swaps in USD for a period of 2 years which appears on the Reuters Page ISDAFIX1 as of 11 am New York time on each calendar day. In case a calendar day is not a Business Day, the relevant rate is the rate displayed on the ISDAFIX1 page on the Business Day immediately prior to such calendar day. Provided that, in respect of each Accrual Period and each of USD CMS 30y and USD CMS 2y, the relevant Reference Spread determined in respect of each of the calendar days during for the period one week prior to end of the relevant Accrual Period shall be fixed on the fifth Business Day prior to the end of such Accrual Period.
Sample 1
USD CMS 2y means the USD-ISDA-Swap Rate with a designated maturity of 2 years, expressed as a percentage, as determined by ICE Benchmark Administration Limited as at the Specified Time, on the relevant Interest Determination Date, as published on the Relevant Screen Page (or such other page that may replace that page on that service or a successor service), subject to the fall back provisions in paragraph 3 below.
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USD CMS 2y means the mid-market annual swap rate expressed as a percentage for a U.S. Dollar interest rate swap transaction with a term equal to 2 years which appears on the Reuters Screen ISDAFIX1 Page as published at 11.00am New York City time two Business Days prior to the start of the relevant Interest Period as determined by the Calculation Agent in its absolute discretion,
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