Was this "financial instrument" designed by the same people that designed credit default swaps. All it does is kick the risk down the road not even mitigate it,

Was this "financial instrument" designed by the same people that designed credit default swaps. All it does is kick the risk down the road not even mitigate it, just disguises the fact that it isn't "risk-free lending". "It is useful for risk-free lending, as the swapped amounts are used as collateral for repayment" https://corporatefinanceinstitute.com/resources/derivatives/foreign-currency-swap/ https://corporatefinanceinstitute.com/resources/derivatives/...