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Off-market Swap A client has requested a four year off-market currency swap with a plain-vanilla configuration, in order to receive 9% fixed rate EUR against

Off-market Swap

A client has requested a four year off-market currency swap with a plain-vanilla configuration, in order to receive 9% fixed rate EUR against floating rate USD. Ignoring the dealers spread, calculate the required floating rate payment, if on-market swaps are priced as 7% EUR against USD libor, and 4% USD against USD libor.

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