rate-cap

rate-cap
rate-caps, rate-capping, rate-capped
1) VERB: usu passive In Britain, when a local council was rate-capped, the government prevented it from increasing local taxes called rates, in order to force the council to reduce its spending or make it more efficient.

[be V-ed] Notts County Council is to cut 200 jobs in a bid to escape being rate-capped.

Derived words:
rate-capping N-UNCOUNT

The project is seriously threatened by rate-capping.

2) N-COUNT A rate cap is a limit placed by the government on the amount of interest that banks or credit card companies can charge their customers. [AM]

English dictionary. 2008.

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Look at other dictionaries:

  • rate cap — ˈrate cap f2 [rate cap] noun (in the US) a limit placed on the amount of interest banks, etc. may charge …   Useful english dictionary

  • rate-cap — rateˈ cap transitive verb • • • Main Entry: ↑rate …   Useful english dictionary

  • Interest rate cap and floor — Interest rate c An interest rate cap is a derivative in which the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. An example of a cap would be an agreement to receive a payment for… …   Wikipedia

  • Interest Rate Cap Structure — Limits to the interest rate on an adjustable rate loan frequently associated with a mortgage. There are several different types of interest rate cap structures including an initial, periodic and lifetime interest rate cap structure. The initial… …   Investment dictionary

  • Periodic Interest Rate Cap — A part of an interest rate cap structure on loans and mortgages. The periodic interest rate cap limits the amount by which the interest rate on an adjustable rate loan can adjust at specified adjustment dates. For example, an adjustable rate… …   Investment dictionary

  • Initial Interest Rate Cap — The maximum amount the interest rate on an adjustable rate loan can adjust on its first scheduled adjustment date. This is part of the interest rate cap structure on the loan, usually a mortgage, which helps to give borrowers some protection from …   Investment dictionary

  • interest rate cap — Under a cap arrangement, the seller of the cap will make payments to the buyer if interest rates rise above an agreed rate. The payment to be made is calculated by reference to a notional principal sum over an agreed term. In return, the buyer… …   Law dictionary

  • cap — cap·no·di·a·ce·ae; cap·no·di·um; cap·pa; cap·pagh; cap·pa·ri·da·ce·ae; cap·pa·ris; cap·pe·len·ite; cap·pel·let·ti; cap·pie; cap·po; cap·py; cap·ra; cap·ral·de·hyde; cap·rate; cap·ric; cap·ri·cor·nis; cap·ri·dae; cap·ri·fi·cate; cap·ri·fi·ca·tion; …   English syllables

  • interest rate cap — See cap. American Banker Glossary An interest rate agreement in which payments are made when the reference rate exceeds the strike rate. Also called an interest rate ceiling. Bloomberg Financial Dictionary …   Financial and business terms

  • Interest rate cap — Also called an interest rate ceiling, an interest rate agreement in which payments are made when the reference rate exceeds the strike rate. The New York Times Financial Glossary …   Financial and business terms

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