Bank anticipation notes (BAN)

Definition:

Notes issued by states and municipalities to obtain interim financing for projects that will eventually be funded long term through the sale of a bond issue.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Official settlements balance (overall balance)

An overall measurement of a country's private financial and economic transactions with the rest of the world.

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