Enumeration | Definition |
---|---|
Administered rate | Managed rate products. The pricing of these products is not contractually linked to any reference rate but is at the discretion of the firm. |
Fixed | Zero interest is considered fixed rate. |
Fixed rate | |
Floating | The pricing on these items is contractually linked to an external reference rate (e.g. Bank Rate in the UK). |
Interest bearing | Interest bearing balance sheet items such as interest bearing current accounts or interest bearing credit card balances. Current accounts paying very low interest rate e.g. less than 0.1% may be included as non-interest bearing balances. |
Non interest bearing | Non-interest bearing balance sheet items such as non-interest bearing current accounts or non-interest bearing credit card balances. Current accounts paying very low interest rate e.g. less than 0.1% may be included here. |
Tracker | The pricing on these items is contractually linked to an external reference rate (e.g. Bank Rate in the UK). |
Variable or floating rate | The pricing on these items is contractually linked to an external reference rate (e.g. 3m LIBOR). |