Spokane has become the first city in Washington to enter an interest rate swap under the state's two-year experiment with derivatives.

In April, the state enacted a law allowing counties, cities, and utility districts to enter into interest rate swaps under certain conditions. The law expires after two years, although the swaps are not limited to two-year maturities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.