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Backup Line of Credit

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Backup Line of Credit
A bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank.
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Getting paid eight [basis points] for a backup line of credit - that's no way to make a living," moans Shufeldt at SunTrust.
Tough Times/Tougher Banks: Bank consolidation and the recession have ... by Milligan, Jack / Financial Executive
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