Lombard Credit

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Lombard Credit

Credit extended in exchange for some collateral that remains with the lender. For example, a lender may extend Lombard credit if the borrower pledges jewelry in exchange. The borrower receives the collateral back upon repayment of the loan. Lombard credit may involve retail pawnbrokers, but the Federal Reserve System makes loans to member banks on a similar basis.
References in periodicals archive ?
On the threshold of BFL placement, return of deposits of HPU and Lombard credits of CB, the banks added the remains at regulator's correspondent accounts significantly (+145.
Lombard credits Moodie with helping the younger kids on the team mature quickly this season, the same thing he did as the leader of Littleton's playoff football squad.
on all the operations of the regulator except for the Lombard credits via fixed rates and overnight and week credits within the frames of direct REPO.