Commercial Paper

From Open Risk Manual

Definition

Commercial Paper. An unsecured short-term debt instrument typically issued by a bank, corporation, or foreign government to obtain funds to meet short-term debt obligations, such as accounts receivable, inventories, or payroll, backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note

Commercial paper has a very-short to short maturity period (usually, 2 to 30 days, and rarely more than 270 days).

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

Contributors to this article

» Wiki admin