floating-rate note

(redirected from Floating Rate Security)
Also found in: Financial.
Related to Floating Rate Security: Variable Rate Bond

floating-rate note

n
(Banking & Finance) a eurobond, often issued as a negotiable bearer bond, that has a floating rate of interest
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
The Multifamily CMBS serving as collateral under the master repurchase agreement are comprised of securities issued from four separate Freddie Mac-sponsored Multifamily K-Series Securitizations, including a first loss floating rate security acquired by the company in October 2012 and the first loss principal only securities and certain interest only securities acquired by the company in November 2012.
The idea was to convert their fixed rate mortgage into essentially a floating rate security so it would better match the funding side of the financial institution.