A swap involving two floating rates is called a basis swap.

Name: A swap involving two floating rates is called a basis swap.
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This statement is true. A basis swap is a type of swap in which two parties exchange two different floating interest rates, typically one based on a money market index and the other based on a credit spread or other market factor. The purpose of the swap is to manage risk associated with interest rate changes and potentially benefit from differentials in floating rate markets.

A Swap Involving Two Floating Rates Is Called a Basis