Global credit arrangement, framework credit, global credit line; blanket loan

A loan that can be drawn down – by a customer of the bank, usually a company or a public body – in installments up to the specified maximum line (ceiling) – within a contractually defined period of time. A framework loan normally has a variable interest rate and can usually be repaid early without further ado. In this sense, it is also referred to as a call credit facility. – A loan or mortgage granted by a bank for a larger project, which is divided into smaller units by the customer. Such loan agreements are particularly common for large-scale housing and housing development projects (frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels). – See user fee, blank credit, land credit institution, refugee settlement credit, melioration credit, seehandlung, settlement credit, social mortgage bond, housing credit. – Cf. ECB Monthly Bulletin, May 2001, p. 58.

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