Back-to-back swap - Financial definition
Concise definition of the term back-to-back swap
A back-to-back swap is a swap that is used to offset an existing swap by canceling out the obligations of the original swap.
Comprehensive definition of the term back-to-back swap
These swaps are more complex than simply cancelling an existing agreement and so will only be used if there are specific tax or accounting benefits. Also known as a reverse swap.