FLOATING RATE NOTE Definition

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FLOATING RATE NOTE (FRN) is a short-term debt obligation where the interest rate is variable because it is linked to a market rate such as the 3-month T-bill rate or London Interbank Offer Rate (LIBOR).

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OEI is Outside Equity Interest.

RECORD DATE, in securities, is the date for determining who is entitled to payment of principal and interest on a security.

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