There are several types of interest rate risk that businesses need to be aware of: 1. Repricing Risk: This occurs when assets and liabilities are revalued at different times, leading to mismatches. 2. Yield Curve Risk: Changes in the shape of the yield curve can affect the valuation of long-term investments and liabilities. 3. Basis Risk: This arises when there is a difference in the interest rate indices used for different financial instruments. 4. Option Risk: This involves the risk associated with embedded options in financial products, such as prepayment options on loans.