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Adjustable Rate Mortgage

A mortgage with an interest rate that changes periodically. Generally speaking, an adjustable rate mortgage is linked to some major benchmark rate; for example, the interest rate may be stated as "LIBOR + 1%." The mortgage may or may not have a cap on how much the interest rate can rise or fall, or on how often the interest rate may change. Very often, the initial interest rate for an adjustable-rate mortgage is lower than that for a fixed-rate mortgage. This allows more people to qualify for an adjustable-rate mortgage; however, this kind of mortgage can be risky because the interest rate (and therefore the monthly payment) can rise unexpectedly. Indeed the prevalence of ARMs has been blamed for the housing bubble in the mid-2000s and the subsequent recession. See also: Credit Crunch, Teaser Rate.

Anti-Money Laundering

Any law or regulation requiring an institution to perform due diligence on potential clients to ensure that it is not aiding in a money laundering scheme. If the institution does not conduct due diligence properly, it may be held legally liable for the money laundering activities. These regulations were an important part of the USA PATRIOT Act.


See adjustable mortgage loan.
References in periodicals archive ?
Though the coexistence of RCC with AML is rare, and the composite variant is even rarer, one must be aware of this entity to prevent misdiagnosis as well as upstaging of RCC, and also to avoid missing areas of RCC within a large AML, especially in TS patients.
That is not to say the AML controls are not worth having, but their accomplishments are likely to be very difficult to detect.
Any AML regime needs to be predicated on clear and definitive rules.
Morphologic, cytochemical, and immunocytochemical studies, including peripheral smear and bone marrow aspiration analyses, confirmed the diagnosis of AML (M4-FAB).
In the future, Novartis is targeting an approximate 30% of the AML patient population that has FLT-3 mutations.
The team has provided AML assessments across the globe and contributed to some of the largest AML investigations and program rehabilitations in recent history.
The National Anti-Money Laundering Committee (NAMLC- UAE) has been proactive and plays a key role in proposing AML rules and procedures in the UAE, facilitates exchange of information and coordination between agencies represented in the Committee and represents the country at international AML forums.
Membership to the KPMG AML Forum provides access to semi-weekly updates, hot topics, articles and discussion forums.
NIEHS grantee Patricia Burlier and colleagues at the University of California, Berkeley, School of Public Health performed a meta-analysis of the scientific literature to investigate the effect of short-term and long-term breastfeeding on the risk of childhood ALL and AML.
While their focus is on retail consumption, international bank training and AML (anti money laundering) Certification is also offered online and is seeing the same increase in users.