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Official discount rate
In Switzerland, the discount rate (also called bank rate) of the Swiss National Bank applies only for bills of exchange with a maturity of at least 180 days, drawn on a party in Switzerland and bearing at least two signatures of parties which are independent of one another and are known to be solvent (bills eligible for discount at the Swiss National Bank). The official discount rate is also applied to bill-like instruments of undisputed standing.
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- Part of Speech: noun
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- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
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