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eligible paper

American  

noun

Banking.

  1. notes, bills, and acceptances qualifying for rediscount by a Federal Reserve Bank.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

To do so they take their eligible paper to the Federal Reserve Bank in their district, rediscount it.

From Time Magazine Archive

The Federal Reserve Board is authorized to define more precisely the nature and character of eligible paper.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.