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The Banker's Acceptance: An Examination and Analysis of the Instrument and Market

The purpose of this dissertation is to examine and analyze the banker's acceptance and the bankers' acceptance market. A banker's acceptance is a money market instrument used to finance the export, import, movement, and storage of goods; it begins as a trade draft, and it is termed accepted when a commercial bank guarantees payment. The banker's acceptance represents an historical evolution of the medieval bill of exchange. The banker's acceptance as we know it today first appeared in England in the 1820s. The birth of the banker's acceptance in the United States occurred with passage of the Federal Reserve Act in 1913. A survey was made of the twenty largest U.S. commercial banks in order to determine certain perceived characteristics of the banker's acceptance and the bankers' acceptance market. As a result of the survey, a new money market instrument is suggested. The new money market instrument is to be called a Banker's Acceptance Participation Certificate.

Identiferoai:union.ndltd.org:unt.edu/info:ark/67531/metadc332444
Date05 1900
CreatorsWilson, Hoyet W.
ContributorsChristy, George A., Cochran, Kendall P., King, Barry Goodwin
PublisherNorth Texas State University
Source SetsUniversity of North Texas
LanguageEnglish
Detected LanguageEnglish
TypeThesis or Dissertation
Formatvi, 167 leaves : ill., Text
RightsPublic, Wilson, Hoyet W., Copyright, Copyright is held by the author, unless otherwise noted. All rights reserved.

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