Company $x$ wishes to borrow U$.$S$.$ dollars at a fixed rate of interest. Company $Y$ wishes to

borrow Japanese yen at a fixed rate of interest. 'Ine amounts required by the two companies are

roughly the same at the current exchange rate. The companies have been quoted the following

interest rates, which have been adjusted for the impact of taxes:

Design a swap that will net a bank, acting as intermediary, $50$ basis points per annum. Make

the swap equally attractive to the two companies and ensure that all foreign exchange risk is

assumed by the bank.