Which of the below represents the "Risk / Return Profile of Counterparties to an Interest Rate Swap"?
A)

\begin{array}{lcc} & \text { Interest Rates Decrease } & \text { Interest Rates Increase } \\\text { Floating-rate payer: } & \text { Gain } & \text { Gain } \\\text { Fixed-rate payer: } & \text { Loss } & \text { Loss }\end{array}

\begin{array}{lcc} & \text { Interest Rates Decrease } & \text { Interest Rates Increase } \\\text { Floating-rate payer: } & \text { Gain } & \text { Loss } \\\text { Fixed-rate payer: } & \text { Loss } & \text { Gain }\end{array}

\begin{array}{lcc} & \text { Interest Rates Decrease } & \text { Interest Rates Increase } \\ \text { Floating-rate payer: } & \text { Loss } & \text { Loss } \\\text { Fixed-rate payer: } & \text { Gain } & \text { Gain }\end{array}

\begin{array}{lcc} & \text { Interest Rates Decrease } & \text { Interest Rates Increase } \\\text { Floating-rate payer: } & \text { Loss } & \text { Gain } \\\text { Fixed-rate payer: } & \text { Gain } & \text { Loss }\end{array}

Assume the Following Terms for an FRA: Reference Rate Is

Multiple Choice