bankers’ acceptance Hear it!

bankers’ acceptance Finance Definition
A short-term credit letter drawn on a bank that guarantees payment of a bill by the bank. Bankers’ acceptance letters generally are used in export and import transactions. They are termed accepted when a bank writes on the draft its agreement to pay it at maturity, using the word accepted. A bank may accept the draft for either the drawer or the holder. Unlike a more traditional loan, a bankers’ acceptance doesn’t necessarily reduce a bank’s lending capacity, because the bank can raise funds by selling the acceptance. The acceptance is nevertheless an outstanding liability of the bank and is subject to reserve requirements from the Federal Reserve.
bankers Quotes

Bats have no bankers and they do not drink and cannot be arrested and pay no tax and, in general, bats have it made.

—Berryman,John originally John Allyn Smith

[Jeremy] Bentham held no post at the mercy of bankers and tripe sellers; he was a man of independent means, a lawyer and politician and a heretic in general practice. It is impossible to imagine such a man occupying a chair at Harvard or Princeton.Hehad a hand intoomany pies; he was too rebellious and contumacious; he had too little respect for authority, either academic or worldly. Moreover, his mind was too wide for a professor; he Mencken could never remain safely in a groove; the whole field of social organization invited his inquiries and experiments.

—Mencken, H(enry) L(ouis)