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Investing Glossary:
Adjustable rate
Copyright 2013,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Definition: |
| Applies mainly to convertible securities. Refers to Interest rate or Dividend that is adjusted periodically, usually according to a standard Market rate outside the Control of the bank or savings institution, such as that prevailing On Treasury Bonds or notes. Typically, such issues have a set Floor or ceiling, called caps and collars that limits the adjustment.
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