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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 ?
The most common AML subtype according to latest WHO classification was "AML with maturation" (M2) having 183(33.
Ceplene in combination with low-dose IL-2 has been approved in more than 30 countries in Europe and in Israel for the treatment of AML and for maintenance of remission and prevention of relapse of leukemia.
MYLOTARG is an antibody-drug conjugate (ADC) composed of the cytotoxic agent calicheamicin, attached to a monoclonal antibody (mAB) targeting CD33, an antigen expressed on the surface of myeloblasts in up to 90 percent of AML patients.
The significance of identifying concomitant RCC and AML is multi-pronged.
The New AML Law explicitly mentions that Money Laundering offences are stand-alone offences and that the punishment of the offender for committing the predicate crime shall not preclude punishing him once again for the Money Laundering offence.
The definitive transaction is subject to approval by AML shareholders, with completion anticipated for the end of June, AML said.
The AML system has worthy goals but it also imposes real costs.
AML earned $356,000, or five cents a share, up from a loss of $200,000, 3 cents a share, in the year ago period.
The Section believes that FinCEN should provide more substantial and substantive evidence, through empirical data, research, or studies, that the industry is, in fact, a significant source of money laundering that would justify the imposition of AML program requirements.
This trial will assess the safety and pharmacokinetic profiles of MG98, define the optimal effective dose of MG98 in these patients --which will aid in the design of future MG98 trials -- and document both the biological and clinical effects of MG98 in patients with advanced MDS and relapsed or refractory AML.
We believe that high-dose chemotherapy can improve survival rates in granulocytic sarcoma associated with AML.