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Topic: Commercial paper

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Repurchase agreements

Money market

Certificate of deposit

	Commercial Paper
		Commercial paper is typically a discount security (like Treasury bills): the investor purchases notes at less than face value and receives the face value at maturity.
		Commercial banks, in their role as issuing, paying, and clearing agents, facilitate the settling of commercial paper by carrying out the exchanges between issuer, investor, and dealer required to transfer commercial paper for funds.
		Commercial paper is used by Industrial and service companies to finance working capital (accounts receivable and inventory) on a permanent or seasonal basis, to fund operating expenses, and to finance, on a temporary basis, construction projects.
	www.eagletraders.com /neg_financial_instruments/commercial_paper_o.htm (1482 words)

	Commercial Paper
		Commercial paper (CP) is unsecured short-term promissory notes issued primarily by corporations, although there are also municipal and sovereign issuers.
		Commercial paper entails credit risk, and programs are rated by the major rating agencies.
		Because commercial paper is a rolling form of debt, with new issues generally funding the retirement of old issues, the main risk is that the issuer will not be able to issue new commercial paper.
	www.riskglossary.com /articles/commercial_paper.htm (843 words)

	Regional Economist
		Commercial paper is sold at a discount and pays face value at maturity, with the holder receiving the capital gain in lieu of interest.
		Commercial paper is considered a liquid asset--one that can be converted to cash easily with little loss of value--because, as noted, the typical issue matures in less than seven weeks.
		Commercial paper is also a low-risk asset--one that carries little risk of default--because the typical issue has such a short maturity and is the liability of a high-quality firm.
	www.stls.frb.org /publications/re/1998/b/re1998b3.html (2895 words)

	Hunton & Williams \| Commercial Paper Programs (Site not responding. Last check: 2007-11-04)
		Commercial paper transactions are exempt from SEC registration requirements, and commercial paper trades freely in domestic and international capital markets.
		Commercial paper cannot have a maturity of more than nine months in order to qualify for the SEC exemptions and often has shorter maturities.
		Commercial paper is sold through agents or dealers and is not underwritten by investment banks.
	www.hunton.com /practices/practice_detail.aspx?gr_H4ID=807 (184 words)

	General Electric : Our Company : Commercial Paper (Site not responding. Last check: 2007-11-04)
		Commercial paper is short-term unsecured senior debt issued in the open market by both financial and nonfinancial companies with strong credit ratings.
		In the U.S. public offerings of commercial paper are exempt from the registration and prospectus requirements of the Securities and Exchange Commission as long as the issuer uses the proceeds to finance current transactions and sells commercial paper for a term of no longer than nine months (270 days).
		Commercial paper issuers are further differentiated by credit ratings which are assigned by one of the nationally recognized rating agencies.
	www.ge.com /en/company/investor/fixed_income/commercial_paper.htm (283 words)

	Instruments of the Money Market: Chapter 9 - Commercial Paper - Federal Reserve Bank of Richmond
		Asset-backed commercial paper is issued by a company, called a special purpose entity, which purchases receivables from one firm or a group of firms and finances the purchase with funds raised in the commercial paper market.
		Commercial paper is likely to remain a significant source of financing for domestic and foreign firms and a relatively safe short-term security for investors.
		Commercial paper which is guaranteed by a bank through a letter of credit is exempt under Section 3(a)(2) regardless of whether or not the issue is also exempt under Section 3(a)(3).
	www.richmondfed.org /publications/economic_research/instruments_of_the_money_market/ch09.cfm (7779 words)

	Commercial paper - Wikipedia, the free encyclopedia
		Commercial paper is a money market security issued by large banks and corporations.
		There are four basic kinds of commercial paper: promissory notes, drafts, checks, and certificates of deposit.
		Commercial paper essentially can be compared as an alternative to lines of credit with a bank.
	en.wikipedia.org /wiki/Commercial_paper (527 words)

	Commercial Paper as supplied by EagleTraders.com
		Commercial paper borrowing may be for the purpose of buying or carrying stocks of merchandise to be quickly resold, and may be regarded as a convenient method of financing inventory requirements at the seasonal peak.
		Commercial paper dealers and brokers, therefore, in recent decades have raised the standards of their paper through use of audited financial statements, credit investigation, and even influence over the borrowing and operating policies of borrowers, so that losses on commercial paper have been negligible even in years of depression.
		The alleged disadvantage of commercial paper for the buyer is that usually it is single-name paper which does not evidence on its face the purpose for which the proceeds are used.
	www.eagletraders.com /advice/securities/commercial_paper.htm (1308 words)

	Commercial Paper Product Overview
		Commercial paper is short-term, unsecured debt typically issued by large capitalized firms to finance their day to day cash needs.
		Commercial paper is zero coupon debt, meaning that the investor buys the bond at a discount from face value (par), holds the bond until maturity, and earns interest income based on the difference between the buy price and the face value.
		Commercial paper tends to yield smaller returns than longer-term corporate debt because securities with shorter maturities typically have lower effective yields than those with longer maturities.
	personal.fidelity.com /products/fixedincome/pocommercial.shtml (394 words)

	(via CobWeb/3.1 planetlab2.netlab.uky.edu) (Site not responding. Last check: 2007-11-04)
		Similarly, commercial paper dealers have been eager for rating agencies to set high standards for coverage, in the belief that this reduced their own risk--since investors might expect the dealer to step in and provide liquidity were an issuer unable to pay off its commercial paper.
		However, companies that issue commercial paper have questioned whether it is appropriate from a credit perspective to request that everyone carry such a high level of "insurance," given the degree of risk that is involved.
		The maturities to be matched include commercial paper, euro commercial paper, master notes, and short-term notes, as well as current maturities of long-term debt and medium-term notes that the company is planning to refinance with commercial paper or short-term notes.
	www.firstsw.com.cob-web.org:8888 /muni/fixedincome/glossary/CommercialPaper.htm (1927 words)

	Commercial Paper -- A complete definition (Site not responding. Last check: 2007-11-04)
		Commercial paper is an unsecured and discounted promissory note issued to finance the short-term credit needs of large institutional buyers.
		Although commercial paper is occasionally issued as an interest-bearing note, it typically trades at a discount to its par value.
		Commercial paper is issued by a wide variety of domestic and foreign firms, including financial companies, banks, and industrial firms.
	www.streetauthority.com /terms/c/commercialpaper.asp (520 words)

	The Commercial paper shredders with best personal paper shredders and WOOD CHIPPER SHREDDER (Site not responding. Last check: 2007-11-04)
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	commercial-paper-shredders.xdrx.lubin.pl (1058 words)

	The Royal 1610x commercial paper shredder with WOOD CHIPPER SHREDDER and cardboard shredder (Site not responding. Last check: 2007-11-04)
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	royal-1610x-commercial-paper-shredder.xdrx.lubin.pl (795 words)

	FRB: About Commercial Paper
		Commercial paper consists of short-term, promissary notes issued primarily by corporations.
		Many companies use commercial paper to raise cash needed for current transactions, and many find it to be a lower-cost alternative to bank loans.
		The Federal Reserve Board's commercial paper release is derived from data supplied by The Depository Trust Company (DTC), a national clearinghouse for the settlement of securities trades and a custodian for securities.
	www.federalreserve.gov /releases/cp/about.htm (1260 words)

	The Money Market
		Commercial paper is an unsecured, short-term loan issued by a corporation, typically for financing accounts receivable and inventories.
		Maturities on commercial paper are usually no longer than nine months, with maturities of between one and two months being the average.
		For the most part, commercial paper is a very safe investment because the financial situation of a company can easily be predicted over a few months.
	www.investopedia.com /university/moneymarket/moneymarket4.asp (242 words)

	Commercial Paper Shredders - Low cost DestroyIt commercial paper shredders
		Personal Paper Shredder: The only sure way to protect your privacy is to shred at the source - with a DestroyIt desk-side paper shredder.
		All personal paper shredders have high-grade steel cutting heads to shred through paper clips and staples, and carry the same 5-year warranty as the largest DestroyIt paper shredder.
		Industrial Paper Shredder: The high capacity and industrial paper shredders are capable of shredding up to 3 ½ tons per hour.
	www.shredder-depot.com /Commercial/Commercial.htm (385 words)

	Commercial Paper (via CobWeb/3.1 planetlab2.netlab.uky.edu) (Site not responding. Last check: 2007-11-04)
		Commercial Paper - invest in these short-term unsecured promissory notes issued by corporations and foreign governments for many large, creditworthy issuers.
		Use of commercial paper can efficiently raise large amounts of funds quickly and without expensive SEC registration by selling paper, either directly or through independent dealers, to a large and varied pool of institutional buyers.
		The essential qualities of this type of investment is short-term maturity (typically three to six months), an automatic or self-liquidating nature, and non-speculativeness in origin and purpose of use.
	www.businessfinance.com.cob-web.org:8888 /commercial-paper.htm (233 words)

	The Papertrail - Commercial Paper Grades (Site not responding. Last check: 2007-11-04)
		All the paper produced at Frogmore Mill is made from 100% recycled fibre.
		No coating facility exists at the mill and so only uncoated papers are available, however it is possible to specify a water finish (glazed /shiny surface) on board weights over 170 gsm.
		The Paper Trail is a registered charity dedicated to creating and maintaining The Paper Trail Project.
	www.thepapertrail.org.uk /default.asp?V_DOC_ID=884 (240 words)

	Asset-backed commercial paper
		The distinction between asset-backed securities and asset-backed commercial paper is primarily one of the tenure of the paper - commercial paper by definition is short-term funding, and is therefore mostly used for short-term assets such as trade receivables.
		Asset backed commercial paper (ABCP) is a device used by banks to get operating assets such as trade receivables funded by issuance of securities.
		The bank will be required to provide some liquidity support to the conduit, as it is practically impossible to match the maturities of the commercial paper to the realisation of trade receivables.
	www.vinodkothari.com /abcp.htm (579 words)

	Commercial Paper Shredder / Heavy Duty Paper Shredders - ABC Office
		These paper shredders are ideal for heavy duty shredding.
		Description: The GBC 6000 series paper shredders are high capacity shredders that include powerful continuous-duty motors.
		Description: The Intimus 407 is a high-volume paper shredder that is ideal for use in the office or in the warehouse.
	www.abcoffice.com /shred4.htm (1277 words)

	Commercial Paper (Site not responding. Last check: 2007-11-04)
		Commercial paper is an unsecured negotiable promissory note issued for specific amount and maturing on a specific day.
		It is a form of short-term borrowing under which creditworthy borrowers are able to borrow directly from institutions, corporate bodies, and other persons.
		The rate offered on commercial paper depends on its maturity, on how much the issuer wants to borrow, on the general money market rates, and on credit rating of the issuer.
	www.cdh-malawi.com /products/copaper.htm (194 words)

	Paper shredders - High security industrial paper shredder for home office purpose
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		As essential as any office machine, a paper shredder is now found beside the desks of executives and administrative professionals, next to copy machines, in mailrooms, computer rooms, warehouses (industrial paper shredder).
		Rely on every DestroyIt paper shredder for industrial paper shredders and home office paper shredders for industrial grade durability and the highest standards of quality.
	www.shredder-depot.com (577 words)

	LaSalle Bank: Commercial: AANA Commercial Paper
		With a low minimum investment of $25,000, LBC paper allows you to invest excess liquidity quicker and in smaller amounts than many commercial paper programs.
		LBC paper offers highly competitive interest rates and a variety of maturities from overnight to 270 days, with no penalty for early withdrawal.
		Although not FDIC insured, LBC paper is rated A-1 by Standard and Poor’s and P-1 by Moody’s.
	www.lasallebank.com /commercial/lbc_comm_paper.html (195 words)

	Office and Commercial Paper towels
		Paper Towels > Office and Commercial Paper towels
		This is 1937 cm paper* towel folded and comes in cartons of 2400 sheets.
		This is 2424cm paper* folded towel with 2400 sheets per carton.
	www.toiletpaper.com.au /category16_1.htm (108 words)

	commercial paper Definition
		Commercial paper is available in a wide range of denominations, can be either discounted or interest-bearing, and usually have a limited or nonexistent secondary market.
		Commercial paper is usually issued by companies with high credit ratings, meaning that the investment is almost always relatively low risk.
		paper, collateral surety, debt instrument, Eurocommercial paper, paper dealer, prime paper
	www.investorwords.com /961/commercial_paper.html (190 words)

	Commercial Paper Shredders and Office Supplies at Officemax
		Identity theft and commercial privacy concerns have made your personal information valuable, and paper shredders give you control over who knows what.
		You'll find the online selection of paper shredders at OfficeMax.com to be the most comprehensive and affordable in the industry.
		OfficeMax.com also stocks a comprehensive list of paper shredder supplies, including shredder bags and shredder cylinder oil.
	www.officemax.com /static/paper_shredders.html (252 words)

	Commercial Paper
		Bearer Paper: payable to whoever possesses it (payable to bearer, cash, something stupid, X or bearer) -> X and bearer is ORDER unless "bearer" handwritten or typed in B.
		Finder or thief of bearer paper treated as holder (all except true owner, and true owner probably can't even take if thief already negotiated title onto another) b.
		Forgery: of order paper breaks title; you claiming to be HIDC can't really be a holder e.
	www.lectlaw.com /files/lws39.htm (2322 words)

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