floating rate note

A note carrying a variable interest rate that is periodically adjusted within a predetermined range, usu. every six months, in relation to an index, such as Treasury bill rates.

— Also termed floater. [Cases: Bills and Notes 125; Interest 32. C.J.S. Bills and Notes; Letters of Credit §§ 84, 100; Interest and Usury; Consumer Credit § 38.]

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词条贡献者

译者成昱，毕业于世界顶级翻译学院，擅长翻译各种与集体诉讼相关的法律文件。