Borrower

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One who borrows. From lenders. Under loans. Involves indebtedness.

If one borrows by means of deposits, you ought to be a licensed deposit-taking institution, which is another way of saying a bank.

Being a swap counterparty is not to be a borrower, although one’s mark-to-market exposure, if not collateralised, can certainly resemble indebtedness even though, strictly speaking, it isn’t.

See also

• Cross default