Narrative Non-fiction audiobook forfinancial market
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General) North American (US General American - GenAM)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
The US commercial paper market has existed since the early 18 hundreds and has consistently been a source of non bank credit for large companies. Commercial paper is a short term debt instrument that firms financial and non-financial issue to finance their short term needs such as payroll receivables and inventory. Most commercial paper is issued only by very large companies with stellar credit ratings such as Ford John Deere and Citigroup. It is issued in large denominations at least $100,000 and it matures on a specific date. Although the term can be as long as 270 days, most commercial paper matures in less than one week. Generally only large institutional investors such as private pension funds, commercial and investment banks and mutual funds can buy commercial paper. So most retail consumers have access to these investments only through an intermediary such as an M M F regardless of the type of intermediary. These institutional investors provide firms with cash.