In an interest rate swap, the risk of the fixed-rate receiver defaulting:

Select one:

a. decreases as interest rates rise.

b. is unaffected by changes in interest rates.

c. is lower when the yield curve is upward sloping compared to when it is downward sloping.

d. is greater when the yield curve is upward sloping compared to when it is downward sloping.

e. is unaffected by the slope of the yield curve.