Financial bill
The financial bill is a bill of exchange that is not based on a commodity or commercial transaction, but serves to raise money (in contrast to the commercial bill ).
This raising of money or credit can, for. B. be done in that a credit institute authorizes a customer to draw a bill of exchange on the credit institute (so-called bank acceptance ). The customer can then submit this bill of exchange to this or another bank for discounting and is credited with the amount of the bill of exchange (minus interest, the so-called discount and costs).
Theoretically, the customer also has the option of passing such a bill of exchange on to one of his creditors to settle a liability by means of an endorsement . The creditor can then submit this bill of exchange to his bank for discounting and receive the amount of the bill of exchange credited.
Until the possibility of rediscounting bills of exchange at the German Bundesbank was no longer possible, only so-called "good commercial bills " were rediscountable, but by no means financial bills .
