One of the mysteries of the English language finally explained.
The section of the financial market which deals in discounted bills of exchange.
- ‘He has retraced in great detail and with considerable support of contemporary evidence the gradual evolution of the discount market.’
- ‘Bank Rate had a direct influence on interest rates in the domestic banking system, being the rate at which the Bank of England, acting as lender of last resort, would normally lend to members of the discount market against security.’
- ‘The exporter may retain the bill until maturity or sell it on the discount market.’
- ‘By giving the Reserve Banks the power to rediscount, it was hoped that the ‘discount market’ would become more liquid and bankers' acceptances would be an attractive investment vehicle.’
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