Which of the following is TRUE?

1) Interest rate swaps can be viewed as a portfolio of forward contracts.

2) A swap involving two floating rates is called a basis swap.

3) Interest rate swap volume is greater than currency swap volume because virtually ever business is exposed to interest rate risk.

A. 1,2 and 3 B. 1 and 2 C. 1 and 3 D. 2 and 3 E. just 1 F. just 2 G. just 3 H. None of the above