Bank One Corporation - Page 188

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          The table below shows the payments on the swap for a hypothetical           
          scenario of the 6-month LIBOR rate over the life of the swap.  In           
          this example, F has promised to pay to L a semiannual interest              
          payment calculated on the basis of a notional principal of $1               
          million and a fixed 5-percent interest rate as adjusted by a                
          ratio the numerator of which equals the number of days in the               
          payment period and the denominator of which equals 360.  L has              
          promised to pay to F a semiannual interest payment calculated on            
          the basis of the same $1 million amount but using, instead of the           
          fixed rate, a floating 6-month LIBOR rate as adjusted by the same           
          ratio.  The sixth column, the net of the fixed and floating                 
          payments, is the only amount that is actually paid by one party             
          or the other.                                                               
          Number of                                                                   
          Payment  Days in    Fixed       Hypothetical     Floating  Net Cashflow     
          Dates    Period    Payment   6-Month LIBOR Rate  Payment    To L (To F)     
          6/1/1993    182     $25,278          4.0%         $20,222      ($5,056)     
          12/1/1993    183      25,417          4.320         21,960       (3,457)    
          6/1/1994    182      25,278          5.130         25,935          657      
          12/1/1994    183      25,417          5.901         29,997        4,580     
          6/1/1995    182      25,278          6.210         31,395        6,117      
          12/1/1995    183      25,417          6.842         34,780        9,363     
               D.  Currency Swaps                                                     
               A plain vanilla currency swap involves the exchange of a               
          series of fixed-rate interest payments denominated in a foreign             
          currency for a series of floating-rate interest payments                    
          denominated in U.S. dollars.  Other currency swaps include                  
          exchanging a fixed rate in a foreign currency for a fixed rate in           
          U.S. dollars, exchanging a fixed rate in U.S. dollars for a                 





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