Analyze_This

Thanks for the question/answer

I think the key is to know that because notional IS exchanged at the beginning and again at the end, currency swaps have credit risk from the middle all the way to the end

but

interest rate and equity swaps don't exchange notional, so the credit risk is higher in the middle (which is when parties begin to make payments)

as always, I'm not positive on these facts, and if somebody reads this and says No that's incorrect, please post the correct answer