Practical Law Glossary Item 7-382-3261 (Approx. 2 pages)
Glossary
Base Rate
Also known as alternate base rate and ABR. A floating interest rate reference rate used by a lender in a loan agreement. In general terms, the base rate is the rate per annum equal to the greatest of:
The prime rate (the variable annual rate of interest so designated from time to time by that lender in the US as its "prime rate");