Older term for the rediscount rate of a central bank, which was often also introduced by law as the key interest rate; in Germany, this was the case under Section 247 of the German Civil Code. – In Germany, the interest rate for the ECB’s main refinancing operations has replaced the bank rate. – See prime rate.
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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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