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Commercial paper   /kəmˈərʃəl pˈeɪpər/   Listen
Commercial paper

noun
1.
An unsecured and unregistered short-term obligation issued by an institutional borrower to investors who have temporarily idle cash.





WordNet 3.0 © 2010 Princeton University


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"Commercial paper" Quotes from Famous Books



... celebrities, wrote political leaders in the papers, earned a great deal of money, lived high, and unfolded a restless and widely ramified activity. Then came the great financial crisis of 1867-68, which swept away so many great fortunes in Norway. Lie became involved (chiefly by endorsement of commercial paper) to the extent of several hundred thousand dollars. He gave up everything he had, and moved to Christiania, resolved to pay the enormous debt, for which he had incurred legal responsibility, to the last farthing. Quixotic as it may seem, it was his intention to ...
— Essays on Scandinavian Literature • Hjalmar Hjorth Boyesen


Words linked to "Commercial paper" :   cash equivalent


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