| Foreword | |
| Acknowledgments | |
| Table of statutory instruments, rules, regulations, FASB statements and EC directives | |
| Table of cases | |
| List of figures | |
| List of periodicals | |
| Preface | |
| Introduction. The Swap's Economic Substance as Legal Issue | p. 1 |
| Economic substance and the swap's legality: the issue of the U.K. local authority swaps | p. 3 |
| The contours of a larger framework | p. 24 |
| The Currency and Interest Rate Swap as a Product of Internal Financial Engineering: An Evolution Towards Economic Substance | p. 37 |
| The swap: a product of its time | p. 39 |
| Three generations of swaps | p. 47 |
| The Economic Functioning of the Swap: The Various Shapes of Economic Substance | p. 75 |
| The basic distinction: hedging or speculation | p. 75 |
| The swap-driven transaction: the swap as a companion of individual balance sheet operations | p. 85 |
| Asset and liability management: the swap as an instrument of curative financial engineering | p. 121 |
| The Swap Market: Description, Functioning, and Regulatory Environment | p. 127 |
| An institutional and legal description of the primary swap market | p. 129 |
| Development and evolution of the secondary swap market | p. 172 |
| The relationship between swap activity and bank capital | p. 202 |
| The Accounting and Regulatory Impact of Economic Substance | p. 227 |
| The recognition of hedging in the swap's accounting treatment | p. 229 |
| The actual and possible impact of hedging upon bank regulations | p. 260 |
| The Tax Treatment of Swap Agreements According to Economic Substance | p. 271 |
| Taxation according to economic substance: an overview | p. 273 |
| The tax recognition of swap gain and loss: tax consequences of external economic substance | p. 287 |
| Economic Substance and the Swap's Identification for Regulatory, Accounting and Tax Purposes | p. 329 |
| Relevance of the identification issue | p. 331 |
| A proposal for an identification route: the double criterion of economic substance | p. 359 |
| The Impact of Economic Substance on the Content and Enforceability of the Swap Contract | p. 363 |
| The impact of economic substance on the swap's contractual provisions | p. 365 |
| Economic substance and the swap's possible qualification as a gaming or wagering contract | p. 386 |
| The contractual negation of the swap's economic substance | p. 402 |
| Economic Substance and Synchronization Problems in the Context of Structuring Swap-Driven Eurobond Issues | p. 409 |
| Introduction | p. 411 |
| Synchronization problems in structuring swap-driven issues and the two phases in a Eurobond issue | p. 422 |
| The Contractual Transformation of Economic Connection into a Genuine Legal Link | p. 433 |
| Introduction | p. 435 |
| Financial swap engineering for clients unable or unwilling to swap | p. 437 |
| Resolving coordination problems in swap-driven structured finance | p. 447 |
| The technique of swap-related synthetic securities | p. 451 |
| General Conclusions | p. 500 |
| Bibliography | p. 509 |
| Index | p. 533 |
| Table of Contents provided by Blackwell. All Rights Reserved. |
