OPERATIONAL NOTICE
No: 04/2004
1 March 2004
TERMINATION OF CROSS CURRENCY SWAPS
Operational Notice No. 11/2003 of 28 August 2003 indicated that the AOFM would explore the early termination of remaining cross currency swaps as part of the phased reduction of the foreign currency derivative exposure in the Commonwealth debt portfolio.
The termination of the cross currency swaps has now been completed. All foreign
currency derivative exposure has now been eliminated from the portfolio.