CMS10 definition
CMS10 means the 10-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on the Reuters Screen ISDAFIX3 Page, at 11:00 a.m., New York City time, on the applicable interest determination date.
CMS10 means, in respect of each applicable Calculation Day during an applicable Interest Period, the CMS Rate with the Specified Maturity of 10 years, PROVIDED THAT:
CMS10 means the semi-annual rate (calculated on a 30/360 day count basis) for USD swaps (vs. 3-month LIBOR) with a maturity of 10 years, expressed as a percentage, which appears on the Reuters Screen ICESWAP1 Page as of 11.00 a.m. New York time or thereabouts, on each relevant date.
Examples of CMS10 in a sentence
For calendar days which are not Business Days, the Accrual Feature calculation will use CMS30 and CMS10 from the last fixings immediately preceding such calendar day.
More Definitions of CMS10
CMS10 equals the 10-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX3, at 11:00 a.m., New York City time, on the applicable Interest Determination Date. The “Interest Determination Date” for any quarterly interest period shall be the second Business Day prior to the beginning of the applicable quarterly interest period. If, on any Business Day, 30-year U.S. Dollar Constant Maturity Swap Rate and/or 10-year U.S. Dollar Constant Maturity Swap Rate are not quoted on Reuters page ISDAFIX3, or any page substituted therefor, then 30-year U.S. Dollar Constant Maturity Swap Rate and 10-year U.S. Dollar Constant Maturity Swap Rate shall be a percentage determined on the basis of the mid-market semi-annual swap rate quotations provided by three banks chosen by the Calculation Agent (as defined below) at approximately 11:00 a.m., New York City time, on that day, and, for this purpose, the semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on the basis of a 360-day year consisting of twelve 30-day months, of a fixed for floating U.S. dollar interest rate swap transaction with a term equal to 30 years or 10 years, as applicable, commencing on the applicable date and in a representative amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on the actual number of days in a 360-day year, is equivalent to USD-LIBOR-BBA, as quoted on Reuters page LIBOR01 at 11:00 a.m., New York City time, with a designated maturity of three months. The Calculation Agent shall request the principal New York City office of each of the three banks chosen by the Calculation Agent to provide a quotation of its rate. If at least three quotations are provided, the rate for the relevant date shall be the arithmetic mean of the quotations. If two quotations are provided, the rate for the relevant date shall be the arithmetic mean of the two quotations. If only one quotation is provided, the rate for the relevant date shall equal that one quotation. If no quotations are available, then 30-year U.S. Dollar Constant Maturity Swap Rate and 10-year U.S. Dollar Constant Maturity Swap Rate shall be the rates the Calculation Agent, in its sole discretion, determines to be fair and reasonable under the circumstances at approximately 11:00 a.m., New York City time, on the relevant date. Each quarterly interest period (other than the initial quarterly ...
CMS10 equals the 10-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX3, at 11:00 a.m., New York City time. If, on any Business Day, CMS30 and/or CMS10 are not quoted on Reuters page ISDAFIX3, or any page substituted therefor, then CMS30 and CMS10 shall be a percentage determined on the basis of the mid-market semi-annual swap rate quotations provided by three banks chosen by the Calculation Agent (as defined below) at approximately 11:00 a.m., New York City time, on that day, and, for this purpose, the semi-annual swap rate means the mean of the bid and offered rates for the semi-annual fixed leg, calculated on the basis of a 360-day year consisting of twelve 30-day months, of a fixed for floating U.S. dollar interest rate swap transaction with a term equal to 30 years or 10 years, as applicable, commencing on the applicable date and in a representative amount with an acknowledged dealer of good credit in the swap market, where the floating leg, calculated on the actual number of days in a 360-day year, is equivalent to USD-LIBOR-BBA, as quoted on Reuters page LIBOR01 at 11:00 a.m., New York City time, with a designated maturity of three months. The Calculation Agent shall request the principal New York City office of each of the three banks chosen by the Calculation Agent to provide a quotation of its rate. If at least three quotations are provided, the rate for the relevant date shall be the arithmetic mean of the quotations. If two quotations are provided, the rate for the relevant date shall be the arithmetic mean of the two quotations. If only one quotation is provided, the rate for the relevant date shall equal that one quotation. If no quotations are available, then CMS30 and CMS10 shall be the rates the Calculation Agent, in its sole discretion, determines to be fair and reasonable under the circumstances at approximately 11:00 a.m., New York City time, on the relevant date. Each semi-annual interest period (other than the initial semi-annual interest period from and including the Original Issue Date to but excluding November 23, 2008) shall commence on, and shall include, an Interest Payment Date, and shall extend to, but shall exclude, the next succeeding Interest Payment Date.
CMS10 equals the 10-year U.S. Dollar Constant Maturity Swap Rate, expressed as a percentage, as quoted on Reuters page ISDAFIX1, at 11:00 a.m., New York City time.
CMS10 means the 10-Year U.S. Dollar ICE Swap Rate, expressed as a percentage, as quoted on the Reuters Screen ICESWAP1 Page, at 11:00 a.m., New York City time, on the applicable U.S. Government Securities Business Day.
CMS10 means the mid-market annual swap rate expressed as a percentage for a euro interest rate swap transaction with a term equal to 10 years which appears on the Reuters Screen ISDAFIX2 Page under the heading “EURIBOR BASIS” and under the caption “11:00 AM FRANKFURT” as published at 11.00am Frankfurt time two Business Days prior to the start of the relevant Interest Period as determined by the Calculation Agent in its absolute discretion; and
CMS10 means the mid-market annual swap rate expressed as a percentage for a EURIBOR interest rate swap transaction with a term equal to ten (10) years which appears on the Reuters Page ISDAFIX2 Page under the heading "EURIBOR BASIS - FRF" and above the caption "11:00 AM FRANKFURT" as of 11:00 a.m. Frankfurt Time on the Determination Date.
CMS10 means in relation to each Observation Period Date, EUR-ISDA-EURIBOR Swap Rate with a Designated Maturity of ten years as determined by the Calculation Agent as of the related CMS10 Observation Date;