Bank anticipation notes
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Related to Bank anticipation notes: Tax Anticipation Notes, Bond Anticipation Notes, Grant Anticipation Notes, Revenue Anticipation Notes
Bank anticipation notes (BAN)
Bank Anticipation Note
A short-term note usually, but not always, issued by a municipality and used to finance some project. Bank anticipation notes are often issued with a maturity of one year or less; the proceeds are paid by the issue of a larger bond with a longer maturity. A construction loan note, in which a city finances private construction, is an example of a bank anticipation note. See also: IDC, RAN.