Cap

(redirected from College of American Pathologists)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.

Cap

An upper limit on the interest rate on a floating-rate note (FRN) or an adjustable-rate mortgage (ARM). Also, an OTC derivatives contract consisting of a series of European interest rate call options; used to protect an issuer of floating-rate debt from interest rate increases. Each individual call option within the cap is called a caplet. Opposite of a floor.

Cap

1. Informal for market capitalization.

2. In a floating-rate note or an adjustable-rate mortgage (ARM), the highest possible interest rate. For example, if one has an adjustable-rate mortgage on a house, the interest rate fluctuates periodically. However, if the homeowner has a cap on the interest rate, there is a guarantee that it will never rise above a certain percent, no matter what the ARM formula would otherwise dictate. A cap is designed to protect the person or company making the interest payments. See also: Floor, Collar.

cap

1. An upper limit on the interest rate to be paid on a floating-rate note.

Cap.

A cap is a ceiling, or the highest level to which something can go.

For example, an interest rate cap limits the amount by which an interest rate can be increased over a specific period of time. A typical cap on an adjustable rate mortgage (ARM) limits interest rate increases to two percentage points annually and six percentage points over the term of the loan.

In a different example, the cap on your annual contribution to an individual retirement account (IRA) is $4,000 for 2006 and 2007 and $5,000 in 2008, provided you have earned at least that much. If you're 50 or older, you can make an additional catch-up contribution of $1,000 each year.

CAP

see COMMON AGRICULTURAL POLICY.

cap

A ceiling on the adjustments that can be made in the payments or interest rate of an adjustable-rate loan.

Cap

Same as Float-Down.

References in periodicals archive ?
False-positive Papanicolaou (PAP) test rates in the College of American Pathologists PAP education and PAP proficiency test programs: evaluation of false-positive responses of high-grade squamous intraepithelial lesion or cancer to a negative reference diagnosis.
Audit of transfusion procedures in 660 hospitals: a College of American Pathologists Q-PROBES study of patient identification and vital sign monitoring frequencies in 16,494 transfusions.
Interinstitutional database for comparison of performance in lung fine needle aspiration cytology: a College of American Pathologists Q-Probes study of 5264 cases with histologic correlation.
The College of American Pathologists is a medical society serving more than 17,000 physician members and the laboratory community throughout the world.
Blood culture quality improvement: a College of American Pathologists Q-Probes study involving 909 institutions and 289,572 blood culture sets.
We're pleased to receive accreditation by the College of American Pathologists as it reflects our commitment to quality at Berkeley HeartLab," said Jean Amos Wilson, Ph.
Q-Tracks; A College of American Pathologists Program of Continuous Laboratory Monitoring and Longitudinal Performance Tracking Archives of Pathology and Laboratory Medicine.
Genzyme Corporation (NASDAQ: GENZ) announced today that its genetic testing laboratory located in Phoenix, Arizona, has obtained the CAP 15189SM Accreditation to the International Standards Organization 15189:2007 Standard for laboratories from the College of American Pathologists.
The College of American Pathologists (CAP) is a not-for-profit medical society serving more than 17,000 physician members and the laboratory community throughout the world.
Dr Bowman is the immediate past chair and Dr Hamill is the current vice chair of the College of American Pathologists Point of Care Testing Resource Committee.
The College of American Pathologists launched its newly computerized Laboratory Accreditation Program (LAP).
The College of American Pathologists Foundation is the leading philanthropic organization for pathologists.

Full browser ?