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Interest Rate Ceiling

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Interest Rate Ceiling
The absolute maximum rate of interest that a financial institution can charge for an adjustable rate mortgage or loan.

Notes:
This is regulated by the government. When a borrower is charged interest above the established legal rate they are usually dealing with a loan shark.


Interest rate ceiling

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? Mentioned in ? References in periodicals archive
 
In South Korea, 14 banks were suspended, the interest rate ceiling was raised and measures were taken to liberalize financial markets to make it more market-driven and less susceptible to political intervention or corruption.
Interest rate ceilings and/or floors may also be implemented for FRN issuance, as outlined in the corresponding pricing supplement.
 
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