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Interest rate floor

   Also found in: Wikipedia 0.01 sec.
Interest rate floor
An interest rate agreement in which payments are made when the reference rate falls below the strike rate. Related: Interest rate cap.

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Other components of non-interest income increased $23 thousand in the aggregate from a variety of sources including the Corporation's insurance and title insurance activities, along with a mark-to-market adjustment on an interest rate floor contract.
This decrease was due to gains recorded on the sale of owned real estate, an increase in the market value of an interest rate floor product, and recoveries of prior year check losses.
84 million last year, primarily due to 2006 losses on the Bank's interest rate floor, a decline in international fee income and a 2005 gain on a sale of other real estate.
 
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