In older literature, the term used to describe the holding of a paper, especially a bill of exchange, until maturity. The owner of the instrument – who thereby waives discounting, passing on, pledging, etc. – would be remunerated accordingly for an agreement to this effect (preservation clause). – See loan sale, loan assignment, subrogation, securitization, rehypothecation, assignment, special purpose vehicle.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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