eligible banker's acceptances
- eligible banker's acceptances
Banker's acceptances that meet Federal Reserve requirements and thus can serve as collateral for bank borrowings from the Federal Reserve. The accepting bank can sell eligible BAs without incurring reserve requirements. (When an accepting bank sells an ineligible BA, the sale is treated as a borrowing subject to reserve requirements.) See banker's acceptance
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In the BA market, an acceptance may be referred to as eligible because it is acceptable by the Fed as collateral at the discount window and/or because the accepting bank can sell it without incurring a reserve requirement. Bloomberg Financial Dictionary
Financial and business terms.
2012.
Look at other dictionaries:
banker's acceptance — ( BA) A short term financial instrument that is the unconditional obligation of the accepting bank. Banker s acceptances, or BAs, arise from transactions involving the import, export, transit, or storage of goods, including domestic as well as… … Financial and business terms
BA — banker s acceptance (BA) A short term financial instrument that is the unconditional obligation of the accepting bank. Banker s acceptances, or BAs, arise from transactions involving the import, export, transit, or storage of goods, including… … Financial and business terms
Bankers' acceptance — A banker s acceptance, or BA, is a time draft drawn on and accepted by a bank. Before acceptance, the draft is not an obligation of the bank; it is merely an order by the drawer to the bank to pay a specified sum of money on a specified date to a … Wikipedia
New York State Banking Department — Past NY Banking Superintendents Superintendent Appointment Date Daniel B. St. John April 15, 1851 Marius Schoonmaker April 4, 1854 James M. Cook January 30, 1856 Henry H. Van Dyck April 16, 1861 Edward Hand (banking) August 9, 1865 Emerson W. K … Wikipedia