Historically it was a long process til the banks started to discount commercial bills by issuing promissory notes. At the first stage of this process the banks bought commercial bills by issuing their own bill, the so called banker’s bill.
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Historically it was a long process til the banks started to discount commercial bills by issuing promissory notes. At the first stage of this process the banks bought commercial bills by issuing their own bill, the so called banker’s bill.