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• 09:29, 15 December 2023 Amwelladmin talk contribs created page Template:M tldr 2002 ISDA a swap as a loan (Created page with "“End-user” swaps are implied margin loans from a dealer to a customer — customers use swaps to change their market exposure whereas dealers delta-hedge to flatten their overall position, leaving only customer credit exposure — this is economically the same as lending to the customer receiving a financing rate, and paying the return of a principal asset minus loan principal and interest — this is equally true of synthetic margin loans like equity swaps a...")