Dictionary of Banking Terms: current coupon
current coupon
bond interest rate comparable to that earned by newly issued bonds with a similar coupon rateand maturity, and is the rate closest to prevailing market rates of interest. In other words, the bond is selling at a price close to its par value. Its yield to maturity is the same or nearly the same as its interest rate, or, in the case of floating rate bonds, the interest payable in the current period.
