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Finance > Letter Of Credit (Loc)
The following information is about Letter Of Credit (Loc).
Letter Of Credit (Loc) Defined
A form of guarantee of payment issued by a bank on behalf of a borrower that assures the payment of interest and repayment of principal on bond issues.
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The Fed's latest foray is closely watched here
Published October 7, 2008, 10:10 pm, The Sarasota Herald-Tribune
For the first time in history, the Federal Reserve is jumping into the $1.5 trillion commercial paper market, in a fresh attempt to break the credit bottleneck.
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