Abstract
In general terms, money market instruments are defined as short- to medium-term, senior, unsecured debt obligations of the company or bank issuing the notes. In most instances the notes are issued in shelf or programme form and are utilised, or drawn down, as required. Use of the notes is typically for general financing purposes (in lieu of, or in addition to, bank financing, equity financing or long-term bond financing). Money market instruments are often used to meet a short-term or seasonal need for funds (while equity financing and long-term bond issuance might be regarded as more ‘permanent’ forms of funding).
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© 1993 Erik Banks
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Banks, E. (1993). Money Market Instruments. In: The Credit Risk of Financial Instruments. Finance and Capital Markets Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-13247-8_10
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DOI: https://doi.org/10.1007/978-1-349-13247-8_10
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-13249-2
Online ISBN: 978-1-349-13247-8
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