Why is a bank line of credit necessary to back up an issue of commercial paper?
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Why is a bank line of credit necessary to back up an issue of commercial paper?
Line of CreditA line of credit (LOC) is a preset borrowing limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. A LOC is...
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Backup lines of credit would be used if the fi...View the full answer
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Related Book For 
Financial Institutions, Markets And Money
ISBN: 1704
12th Edition
Authors: David S. Kidwell, David W. Blackwell, David A. Whidbee, Richard W. Sias
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