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" But the discount of bills of exchange drawn in good faith against actually existing values, and the discount of commercial or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page 147
by Michigan. Banking Division - 1891
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Insider Lending: Banks, Personal Connections, and Economic Development in ...

Naomi R. Lamoreaux - 1996 - 196 pages
...no bank would be endangered by discounting large amounts for a single firm. 34 The second exception, "the discount of commercial or business paper actually owned by the person negotiating the same," is similarly instructive. The provision applied mainly to professional brokers, whose growing presence...
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Official Gazette, Volume 96, Issue 13

Philippines - 2000 - 494 pages
...additional charges or advances made by the NBQB to protect its interests such as taxes, insurance, etc.; c. The discount of bills of exchange drawn in good faith...actually owned by the person negotiating the same, including, but not limited to, the acquisition of export bills from any of its DOSRI which are drawn...
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Evolving Financial Markets and International Capital Flows: Britain, the ...

Lance E. Davis, Robert E. Gallman - 2001 - 1002 pages
...bank would not be endangered by discounting large amounts from a single firm. The second exemption, "the discount of commercial or business paper actually owned by the person negotiating the same," is similarly instructive. Such persons were normally expected to be professional brokers, whose growing...
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Official Gazette, Volume 100, Issues 38-39

Philippines - 2004 - 314 pages
...paragraph of this section and shall be subject to the ten percent (10%) limitation provided therein. 1. Commercial or business paper actually owned by the person negotiating the same shall mean a paper arising from an actual business transaction. A trade acceptance or promissory note actually...
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Federal Reserve Bulletin

1916 - 814 pages
...associations, actually paid in and unimpaired, and one-tenth part of its unimpaired surplus fund. * • * * But the discount of bills of exchange drawn in good...actually owned by the person negotiating the same snail not be considered as money borrowed. A member bank may, therefore, acquire from the same person...
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