FRA and swaption timing contract

maratikus

now is June.1(time 0), if I have a 2*3 FRA, does it mean FRA contract starts at June 1. and ends at Aug.1, and the loan starts at Aug and end at September?

if it is A swaption 2*3, does it mean I can enter swap now and swap ends at Aug.1 and the loan starts at Aug and end at September?

ryanlb

the underlying loan is 1 month and starts at the end of august/beg of september and ends on september 30th. the FRA expires in 2 months. thus 2x3.

Newhuman

what about the beginning of FRA?

what about SWAPTION?