See also asset(-based) swap; basis (rate) swap.
A spot purchase of foreign exchange (currency swaps), fixed or floating rate funds (interest rate swaps) or assets (asset swaps) with simultaneous forward sale or vice versa. Pase financiero is an Argentinian system, related to the swap system, whereby persons or institutions making capital investments are given an "exchange guarantee," which guarantees that the funds can be re-exchanged at a predetermined exchange rate on a specific date. The French Government is recommending the term crédit croisé but it is fighting a losing battle.