Table 1, taken from Meulendyke (1998), shows that bankers' acceptances
were the primary asset class for the Federal Reserve portfolio until World War I, and acceptances had a roughly equal presence with Treasury securities through the 1920s.
The total size of trade finance assets outstanding globally is approximately $4 trillion, of which only about $500 billion, or 13%, is bank-intermediated in the form of bank products such as letters of credit, bankers' acceptances
and trade loans.
a floating rate based on bankers' acceptances
plus a credit
In addition, there were outstanding undrawn letters of credit of $226 million and bankers' acceptances
of $300 million outstanding against the revolver.
Assets at banks, including bankers' acceptances
, dropped 0.
95% per annum payable semi-annually until June 1, 2016; and at a variable rate equal to the Canadian dollar offered rate for three months' bankers' acceptances
plus 1% thereafter until maturity on June 1, 2036.
9 million and bankers' acceptances
of $430 million outstanding against the revolver.
The first issue was for $20 million principal amount of floating rate unsecured notes maturing January 15, 2007 and bearing interest at three month Canadian dollar bankers' acceptances
plus 60 basis points.
This is achieved by investing in a low-risk and diversified set of money market securities, denominated in USD, such as certificates of deposit, time deposits, bankers' acceptances
, asset-backed securities (including ABCP), commercial paper, repos, and medium-term notes.
In addition, PNC Bank provided Davos Chemical with letters of credit for foreign suppliers and bankers' acceptances
for fixed- rate financing.
8% per annum payable semi-annually until November 23, 2015; and at a variable rate payable quarterly equal to the Canadian dollar offered rate for three months' bankers' acceptances
plus 1% thereafter until maturity on November 23, 2035.
Treasury Notes, securities issued by federal agencies and instrumentalities, bankers' acceptances
and repurchase agreements with highly rated counterparties.
These include certificates of deposit and bankers' acceptances
issued or guaranteed by U.
The fund aims to achieve this by investing in a wide range of high-quality, short-term instruments such as: bankers' acceptances
, certificates of deposits, master notes, commercial paper, floating rate notes, medium-term notes, securities issued by OECD governments (including supranational entities), corporate bonds, and asset- or mortgage-backed securities.
After an in-depth vendor review, Telerate was chosen to collect daily money market rates from the eight financial institutions that make active two-way markets in bankers' acceptances
and Treasury bills.