bank anticipation note (BAN)


Notes that are typically issued by states and municipalities in order to obtain interim financing for projects that will eventually be funded long term through the sale of a bond issue. These notes are typically short term in their duration - with a typical maturity of one year or less - but not always. The proceeds are usually paid by the bond issue of a larger bond with a longer maturity.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
bank advance bank balance