variable rate demand obligation (VRDO)
Definition
Debt security which bears interest at a floating (variable) rate adjusted at specified intervals (such as daily, weekly, or monthly) and can be redeemed at its holder's option when the rate changes. Also called low floater, variable rate demand note, or variable rate demand bond.
variable rate demand obligation (VRDO) is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.
variable rate demand obligation (VRDO) appears in the definitions of the following terms: low floater, variable rate demand note (VRDN) and variable rate demand bond (VRDB)
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