reset cap

reset cap
The maximum amount by which an adjustable-rate security's coupon rate can change in any given period of time.
Also called the periodic cap.
For most ARMs and floaters, the maximum periodic or reset change is defined as an amount of change in each, consecutive 12-month period over the life of the security. Thus the term " annual" cap is also used to describe most periodic caps. American Banker Glossary

Financial and business terms. 2012.

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