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?

Newhuman

what about the beginning of FRA?

what about SWAPTION?

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.