banker's acceptance

American  

[bang-kerz ak-sep-tuhns] / ˈbæŋ kərz ækˈsɛp təns /

noun

1. a draft or bill of exchange that a bank has accepted. BA

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Etymology

Origin of banker's acceptance

First recorded in 1810–15

Example Sentences

Strong demand for banker's acceptance bills - debt instruments guaranteed by banks - has pushed yields on one-month bills to an average of less than 1% and as low as 0.04% since the beginning of Shanghai's COVID-19 lockdown in late March, according to data from the Shanghai Commercial Paper Exchange.

From Reuters

"This allows banks to 'window dress' their loan books by purchasing banker's acceptance bills so that they can meet the loan targets," he said.

From Reuters

Banker’s acceptance bills, another form of off-balance sheet financing, was also affected by the tightening and saw a record 416 billion yuan net repayment in June.

From Forbes

Commercial banks will have to include margin deposits paid by their clients to secure the issuance of banker's acceptance, letters of guarantee and letters of credit in their required reserves.

From Reuters

Before granting them he wanted as assurance the equivalent of a "banker's acceptance," presumably a guarantee that Congress will pass the kind of strict crop control law which he desires.

From Time Magazine Archive