CAP

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cap

n. slang for maximum, as the most interest that can be charged on an "adjustable rate" promissory note.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

CAP

abbreviation for COMMON AGRICULTURAL POLICY.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
"The only thing not capped is nursing homes," says Bob Deist.
For a premium paid up front, borrowers are protected from a rise in short-term rates above the specified capped rate while benefiting from any subsequent rate declines.
To enter into a cap agreement, the purchaser and seller define the parameters of the desired cap coverage period: the capped index (prime, three-month LIBOR, etc.), the cap level or "strike," the term of the cap with a defined start date, payment dates, a termination date, the notional amount, and the premium to be paid to the seller.