Interest Rate Swaps - An agreement between two parties to exchange interest payments on a predetermined amount of principal ("notional principal"). There is no exchange of principal; the parties are liable only for the interest payments and payments are exchange on a net basis. Typically, swaps are used to convert a fixed rate instrument to a floating rate, or to convert a floating rate instrument to fixed.

Caps, Collars & Floors - These asset liability management tools provide protection against future movements in interest rates.