ALTERNATE PAYEE ENDORSEMENT Definition

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ALTERNATE PAYEE ENDORSEMENT, normally, it is when one payee endorses a draft over to another entity, then the new or alternate payee endorses the draft near the original payees endorsement (signature).

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OFFICIAL INTEREST RATE, normally, is the rate of interest charged by the government or traders within the money market, e.g., federal funds rate and bank repurchase agreement (repo rate).

IMPLIED DIVIDEND RATE is the basis for calculating yields on adjustable-rate preferreds; assumes that the dividend rate will remain the same as the index rate for all future dividends.

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