A long-term loan in which the term, payment, interest rate, or principal amount may be adjusted periodically according to a specific index.
The specific date on which the interest rate of an Adjustable-Rate Mortgage (ARM) can be recalibrated as per predetermined terms.
Recasting a debt refers to the process of adjusting the terms of an existing loan arrangement, often undertaken to prevent default or alleviate financial hardship. This can include modifying the payment schedule, extending the loan term, or lowering the interest rate.
Reset bonds are bonds issued with a provision that on specified dates, the initial interest rate must be adjusted so that the bonds trade at their original value.
