ICI » Topics » Interest rate swaps and forward rate agreements

This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Interest rate swaps and forward rate agreements
Interest payments/receipts are accrued with interest income/expense as appropriate. They are not revalued to fair value or shown on the Group balance sheet at period end. If they are terminated early, the gain or loss is spread over the remaining maturity of the original instrument.

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