Term:
Mismatch floating-rate note (FRN)
Definition:
FRN with a coupon structure that is refixed more often and for different maturities than the interest periods (e.g., the interest rate is based on six months’ LIBOR but adjusted every month).
Domain:
Finance
Source:
Coordinated Portfolio Investment Survey Guide, Second Edition, International Monetary Fund, 2002, Washington DC. Appendix VI: Definition and Description of Instruments
