First-class bills of exchange (fine bank bills)

Bills accepted by the central bank for rediscount without further ado. At the ECB, which does not have a discount policy, these instruments are accepted as tier two collateral. – See financial investment, discount policy, tier two asset, rediscount rate, bill credit.

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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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