In the Caps and Floors panel, you can manually add and change an interest rate option cap and an interest rate option floor. An interest rate option cap is the highest interest rate that can be paid on a floating rate bond, or the highest rate that an adjustable rate mortgage can rise to in a specified period of time. An interest rate option floor is the minimum interest rate permitted by state law for a floating rate note.
This article assumes you are familiar with the entity elections that have been made for processing caps and floors.
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