We do not rediscount our bills in the market either; so every transaction we enter into we have to see through to the very end.
And don't start with the rediscount and the Series W business again.
To make assurance doubly sure, the rediscount of loans secured by stocks and bonds is specifically prohibited.
The lack of a central bank and of a rediscount market is to a degree compensated by unity of action among the banks.
Exclusion of collateral loans from rediscount will certainly contribute much to bring this about.
It may be a discount bureau, or a rediscount bureau, a national clearing house, or a national or regional reserve association.
A rediscount in this instance would not constitute a loan to the country bank and would have absolutely no effect on its credit.
In other words, to rediscount its commercial paper would affect a bank's credit.
They depend on the Reichsbank and the Bank of France for rediscount in times of need.