Which of the following statements is true concerning dealing and rollovers at non-current rates?

When setting the rates for an FX swap to extend the maturity, the spot rate should be fixed immediately within the current spread

Where the use of non-current rates may be necessary, they should only be entered into with the prior explicit permission of the quoting party’s senior management

Dealing and rollovers at non-current rates are relatively common market practice and therefore should not be treated differently from any other transaction

Dealing and rollovers at non-current rates are forbidden as they can help perpetrate fraud and tax evasion