ADJUSTABLE RATE PREFERRED Definition

ADJUSTABLE RATE PREFERRED (ARP) is preferred stock issues in which dividends are reset quarterly either at a fixed spread or at a percentage of the highest of three benchmarks on the yield curve. Also known as floating­-rate preferreds.

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SIC (STANDARD INDUSTRIAL CLASSIFICATION) is a U.S. Government numerical coding system used in the U.S. to group and classify basically all products and services existing within the U.S. economy.

DEMAND DEPOSIT is a bank deposit from which withdrawals may be made without notice.

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