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A payer’s 3-month USD LIBOR swap with a remaining term of five years must be...

A payer’s 3-month USD LIBOR swap with a remaining term of five years must be reported as:

A.

a five-year liability and a three-month asset

B.

a five-year asset and a three-month liability

C.

a five-year asset only

D.

a three-month liability only

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