Issuing bank

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Issuing bank

Bank that issues a letter of credit.

Issuing Bank

A bank that writes a letter of credit, especially on behalf of an exporter. The issuing bank operates in the country of the importer, and facilitates trade between the importer and exporter by providing credit for the transaction. It is also called an opening bank.
References in periodicals archive ?
SmartMetric has signed an agreement with a credit card chip and EMV chip card supplier to credit card issuing banks. The Advantis EMV Credit Card Chip is in use by card issuing Banks in Europe, South America and North America.
" Mastercard also has a number of exclusive offers that cardholders can avail of, both in-store and online, in addition to discounts and bonus points from issuing banks. I'm such a points junkie I'm always up-to-date on my bank's offers, and have in the past used my accumulated points for flights and hotel stays.
The enhanced policy also requires issuing banks to enroll or trade the bonds in a market recognized by the SEC to promote price discovery and transparency.
The circular also has a prohibition on issuing banks and their related entities, that the issuer - including its subsidiaries, affiliates, and the wholly or majority-owned or -controlled entities of such subsidiaries and affiliates - is prohibited from holding or acting as a market maker of the bank's listed or traded bonds or commercial papers.
A spokesperson for the CSC confirmed: "Thanks to the work that the issuing banks have already undertaken to swap the older paper notes with the more secure, environmentally friendly polymer notes, the majority of PS5 and PS10 notes have already been replaced with polymer.
On January 16, NetScout Systems entered into an amendment and restatement of its Credit Agreement, dated as of July 14, 2015 by and among: the company; certain subsidiaries of the company as loan parties; the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent.
We would like to work to provide this payment solution to many consumers in Taiwan in collaboration with TWMP and issuing banks."
MyChargeBack, an international provider of recovering the funds of victims of binary options fraud and binary options scams, has announced that it has broadened its portfolio to include consultation services and partnerships with competing financial recovery companies, credit card issuing banks and law firms specializing in consumer rights, the company said.
consequences that merchants and issuing banks face are most important.
Moreover, for the back to back/counter-guarantee issuing banks situated in foreign countries, National Scale Rating of at least 'A' or equivalent shall also be acceptable provided the guarantee issuing bank in Pakistan is comfortable with it.
Issuing banks rarely create a secondary market for SCDs, and even if a secondary market is created, the issuing banks are under no obligation to maintain it.4 As a result, if an investor decides to sell his or her SCD prior to maturity, the amount the investor receives could potentially be lower than the initial principal amount.
The law also gives issuing banks a legal mechanism by which to recoup the cost of reissuing payment cards after a payment card security breach.