Commercial Paper is: A formal, committed line of credit extended by a bank or other lending institution An informal arrangement in which a bank agrees to lend up to a specified maximum amount of funds during a designated period. A minimum checking account balance that a firm must maintain with a commercial bank A document specifying the terms and conditions of a loan, including the amount, interest rate and repayment schedule Unsecured, short term promissory notes of large firms, usually issued in denominations of $100,000,000 or more and having an interest rate somewhat below the prime rate