| 
 UID223419 帖子295 主题13 注册时间2011-7-11 最后登录2014-8-7 
 | 
| That seems right. The issuer has a floating rate liability (MV doesn’t change much), but the cash flow could. So they hedge by taken on a fixed rate liability (MV does change), but they rec the floating rate payments to satisfy the original FRN. | 
 |