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bank discount

Definitions

  • WordNet 3.6
    • n bank discount interest on an annual basis deducted in advance on a loan
    • ***
Webster's Revised Unabridged Dictionary
    • Bank discount a sum equal to the interest at a given rate on the principal (face) of a bill or note from the time of discounting until it become due.
    • Bank discount A sum equal to the interest at a given rate on the principal (face) of a bill or note from the time of discounting until it becomes due.
    • ***

Usage

In literature:

The discount on bank notes had diminished by one third.
"The History of England from the Accession of James II." by Thomas Babington Macaulay
For a month past the bank could not have discounted a hundred francs' worth of our paper.
"Don Orsino" by F. Marion Crawford
Taking my deposit book and the genuine bills, I went to the bank and left the bills for discount.
"Bidwell's Travels, from Wall Street to London Prison" by Austin Biron Bidwell
After discounting his note at the bank, I returned home to see how "the boy" was getting on.
"Twenty Years of Hus'ling" by J. P. Johnston
When the bullion committee reported in 1810, Bank of England notes were at a discount of about 131/2 per cent.
"The Political History of England - Vol XI" by George Brodrick
I've got prospects, but I can't discount prospects at the banks.
"Northern Lights" by Gilbert Parker
This bank issued circulating notes, discounted commercial paper and aided the government in its financial operations.
"Encyclopaedia Britannica, 11th Edition, Volume 3, Part 1, Slice 3" by Various
The Discount Bank in Berlin has a vast cellar filled with Roumanian bonds, shares and other securities.
"England and Germany" by Emile Joseph Dillon
The bank discounts merchants' bills of exchange for two months.
"The Writings Of Thomas Paine, Complete" by Thomas Paine
The bank discounts merchants' bills of exchange for two months.
"The Writings Of Thomas Paine, Volume III. 1791-1804" by Thomas Paine
If the banks stop discounting, a more or less violent readjustment with the outside world results.
"Banking" by William A. Scott
Gold is also rising, and the Bank discount goes daily higher.
"That Boy Of Norcott's" by Charles James Lever
The bank discounts all approved bills offered to it by persons or firms having properly constituted accounts.
"Readings in Money and Banking" by Chester Arthur Phillips
The next morning Wallingford called at one of the local banks and had no difficulty whatever in discounting the quite acceptable note.
"Get-Rich-Quick Wallingford" by George Randolph Chester
He will know the explanation of our kindly words, and their proper discount at the bank.
"Life's Minor Collisions" by Frances Warner
This became book or bank money, and the actually circulating medium was rated to it at a certain discount.
"The History of Currency, 1252 to 1896" by William Arthur Shaw
Nor was this all: Money was so scarce with me, that I was resolv'd to discount the Bank Bills I had left, which were almost sunk to nothing.
"The Memoirs of Charles-Lewis, Baron de Pollnitz, Volume IV" by Karl Ludwig von Pöllnitz
The paper of the Bank of Kentucky was at a discount, and there was no hope of its improving.
"The History of Louisville, from the Earliest Settlement till the Year 1852" by Ben Casseday
It was discounted in the German-American National Bank, and Mr.
"The Works of Robert G. Ingersoll, Vol. 10 (of 12) Dresden Edition--Legal" by Robert G. Ingersoll
Ignoring the claim of the bank he had assigned a number of his railway shares to meet a bill discounted elsewhere.
"Ovington's Bank" by Stanley J. Weyman
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In news:

2 Fed Banks Favored Rise in Discount Rate .
Spain's 'Bad Bank' To Buy Distressed Assets At Big Discount.
Fannie is seeking to require banks and other mortgage servicers to replace existing force-placed policies on loans it guarantees with insurance provided by a consortium of carriers offering discounts.
The foreclosure data firm RealtyTrac says you can buy bank- owned properties in Chicago for steep discounts, but a realtor cautions that you get what you pay for.
Fannie is seeking to require banks and other mortgage servicers to replace existing force- placed policies on loans it guarantees with insurance provided by a consortium of carriers offering discounts.
The discount that banks will be allowed to offer on lending rates, relative to the benchmark, has been more than doubled, she said.
GE Capital Retail Bank has announced a multi-year renewal to continue providing financing for customers of Discount Tire, the nation's leading independent tire retailer.
Some vacation home s are selling at a discount as short sales and bank-owned homes.
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In science:

It is well known that a classical friction-free model containing a risky stock and a bank account admits no arbitrage if and only if there exists a probability measure on the model under which the stock price, discounted by the interest rate on the bank account, is a martingale.
The fundamental theorem of asset pricing under proportional transaction costs
From the bank account we can then define a discounting short rate rt and zero-coupon bonds Pt (T ) by the usual formula and model them via a HJM model as given in the previous section.
Interest-Rate Modeling with Multiple Yield Curves
In case of absence of CSA, using the same no-arbitrage principle between the funding and the discounting rate, we conclude that a bank should discount future cash flows (positive or negative) using its own “traditional” cost of funding term structure.
Interest Rates After The Credit Crunch: Multiple-Curve Vanilla Derivatives and SABR
Discounting curves: these are the yield curves used to discount futures cash flows. As discussed in section 2.4, the curve must be constructed and selected such that to reflect the cost of funding of the bank in connection with the actual nature of the specific contract that generates the cash flows.
Interest Rates After The Credit Crunch: Multiple-Curve Vanilla Derivatives and SABR
In particular, we require that a bank account and zero-coupon discount bonds of all maturities satisfy this condition.
The Dynamics of the Forward Interest Rate Curve with Stochastic String Shocks
Asset prices discounted at the bank account are also martingales under this probability measure.
The Dynamics of the Forward Interest Rate Curve with Stochastic String Shocks
In particular, we require that a bank account and zero-coupon discount bonds of all maturities satisfy this condition. A security is referred to as a (floating-rate) bank account, if it is “locally riskless” 7 .
``String'' formulation of the Dynamics of the Forward Interest Rate Curve
Note that the term dtB (t) − r(t)B (t)dt vanishes identically from the definition of the spot rate and thus the amount invested in the bank account does not contribute to the discounted variation of V2 .
``String'' formulation of the Dynamics of the Forward Interest Rate Curve
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