COMMERCIAL BILLS
commercial bills: translation
Also known as trade bills. Dresdner Kleinwort Wasserstein financial glossary
IOUs issued by companies (usually medium sized) and usually guaranteed ('accepted') by a bank. They pay no interest and hence are issued at a discount to nominal value. They have varying maturities ( maturity). They may be eligible bills, indicating that the Bank of England is prepared to purchase them in the money markets. Dresdner Kleinwort Wasserstein financial glossary