When the date came, you would cut the coupon off and go to the bank and get your interest payment.

到息日到了以后，你就可以剪下这张息票拿到银行,去兑换利息。

耶鲁公开课 - 金融市场课程节选

The kicker is that a confession of judgment typically includes a paragraph that introduces an escalated interest rate from the date of default.

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Submitting an Expression of Interest by the set date (9 January 2015) does NOT also stand as submitting a formal application, such applications follow a separate process and are due on February 9 2015.

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In other words, instead of setting a date for interest rates to go up and easy monetary conditions to tighten, they would seek to tie those decisions to variables that reflect their dual mandate (i.e. price stability and full employment).

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