A
Bankers' Acceptance (BA) is basically a time draft, which is endorsed by a commercial bank.
Bankers' acceptances are borrowings by banks on behalf of their customers for which the borrowing bank is liable (Luckett, 1984 and Ezeama, 1993).
(15) A key motivation for Laughlin's support for a rediscount market for
bankers' acceptances was to prevent the National Reserve Association from holding stock market securities as collateral when issuing loans to members.
The historical record shows that prior to the U.S.'s entry into World War I, the Federal Reserve's preferred media for open market operations were private bills of exchange, trade acceptances, and
bankers' acceptances, (2) rather than public debt.
Clearly, the
bankers' acceptance can be an attractive financing alternative for merchandise acquired through the letter-of-credit vehicle.
MX also reached a new open interest record on the Options on the Three-Month Canadian
Bankers' Acceptance Futures, reaching 211,700 contracts on December 4, 2013.
The Debentures will bear interest at a fixed rate of 3.42% per annum (paid semi-annually) until January 26, 2021, and at the three-month Canadian dollar
bankers' acceptance rate plus 2.57% per annum (paid quarterly) thereafter until their maturity on January 26, 2026.
Between 3 August 2017 and their maturity on 3 August 2022, the holders of the debentures will be entitled to a quarterly coupon starting from 3 November 2017, at the 90-day
bankers' acceptance rate plus 1.255%.
At a fixed rate of 3.12 per cent per annum (paid semi-annually) until September 19, 2019, the Notes bear interest and at the three-month
Bankers' Acceptance Rate plus 1.08 per cent thereafter until their maturity on September 19, 2024 (paid quarterly).
The
bankers' acceptance notes, which are financial instruments used for purchase settlements, are scheduled to mature in December 2012.
The debentures, to be issued on November 2, 2010, will bear an annual interest rate of 3.15% paid semi-annually in arrears until 2 November 2015, and, if not redeemed by CIBC, at the three-month
bankers' acceptance rate plus 1.27% a year (paid quarterly in arrears) until maturity, the bank said in a statement.
ABU DHABI, 27th August, 2019 (WAM) -- The UAE Central Bank has announced that gross bank assets, including
bankers' acceptances, rose by 0.6 percent, climbing from AED2958.6 billion at the end of June 2019 to AED2975.8 billion at the end of July 2019.
Prime Rate Loans from prime plus 0.45% - 1.00% to 0.25% - 1.00%; LIBOR Loans,
Bankers' Acceptances and Letters of Credit from the applicate rate plus 1.45% - 2.00% to 1.25% - 2.00% and Standby Fees from a range of 0.29% - 0.40% to 0.25% - 0.40%.
Gross bank assets, including
bankers' acceptances, increased by 0.8 per cent, rising from Dh2854.3 billion at the end of November 2018 to Dh2878 billion at the end of December 2018.
Other permissible securities include money market obligations such as commercial paper, certificates of deposit (CDs),
bankers' acceptances, repurchase agreements and medium-term notes.
