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- a financial institution (unique to the UK financial system) which specializes in the buying and selling of commercial BILLS OF EXCHANGE and government TREASURY BILLS. See DISCOUNT MARKET.
- RETAILERS who sell products at low prices by bulk buying, accepting low margins and selling high volumes.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
discount housea financial institution (unique to the UK financial system) that specializes in the buying and selling of short-dated commercial BILLS OF EXCHANGE and government TREASURY BILLS in the DISCOUNT MARKET. They make their profit by borrowing money short-term from COMMERCIAL BANKS (CALL MONEY) and lending money for longer periods (up to three months), the small differential in interest rates between their short-term borrowing and longer-term lending constituting their profit. See TENDER ISSUE.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005