Business, Legal & Accounting Glossary
1. The maximum interest rate permitted by state law for a given loan. A ceiling is a common feature of floating rate notes. 2. An upper limit on the exchange rate of a country’s currency imposed by some regulatory authorities (the government or regulators will step in and ensure that the exchange rate does not exceed the ceiling). 3. More generally, any limit or maximum.
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This glossary post was last updated: 20th November, 2021 | 0 Views.