PERPETUAL FLOATING RATE NOTE (FRN)
\pəpˈɛt͡ʃuːə͡l flˈə͡ʊtɪŋ ɹˈe͡ɪt nˈə͡ʊt ˌɛfˌɑːɹˈɛn], \pəpˈɛtʃuːəl flˈəʊtɪŋ ɹˈeɪt nˈəʊt ˌɛfˌɑːɹˈɛn], \p_ə_p_ˈɛ_tʃ_uː_əl f_l_ˈəʊ_t_ɪ_ŋ ɹ_ˈeɪ_t n_ˈəʊ_t__ ˌɛ_f_ˌɑː_ɹ_ˈɛ_n]\
Word of the day
ARBITRARY PUNISHMENTS
- Practice. punishments left to decision of the judge, in distinctiou from those which are defined by statute.