bank acceptance

noun

1. Also called: banker's acceptance. a bill of exchange or draft drawn on and endorsed by a bank

Example Sentences

Shadow banking, which includes trust loans, bank acceptance bills and underground lending, has grown rapidly in China since 2010, and many bankers say it was partly to blame for the interest rate spikes in June and December.

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The average monthly amount of bank acceptance bills issued so far this year has more than doubled to 222.8 billion yuan compared with an average of 87.5 billion yuan for all of 2012.

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Companies are also buying bank acceptance notes, transferable bills issued by other banks that can be sold for cash.

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The sprawling shadow financing, which includes trust loans, bank acceptance bills and underground lending, has driven the torrid rise in overall credit, which is approaching 200 percent of GDP, Fitch said.

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In August, the government included deposits for bank acceptance bills and letters of credit -- previously deemed as off-balance-sheet assets -- for calculating their reserve requirement ratio.

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