discount house

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discount house

  1. 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.
  2. RETAILERS who sell products at low prices by bulk buying, accepting low margins and selling high volumes.

discount house

a 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.
References in periodicals archive ?
25 March 2010 - South African Global Credit Rating (GCR) removed from "positive" outlook while keeping the domestic currency ratings of A and A1 in the respective long- and short-term of Nigerian bank Kakawa Discount House Ltd.
Currently, excluding the discount houses, the domestic banking institutions control about 75% of banking sector in terms of total assets and total deposits.
The big discount houses can offer these products at a lower price because they can buy in volume.
It spent months on The New York Times bestseller list, and was even available in discount houses, next to stacks of Danielle Steele paperbacks.
Many discount houses offer recycled toner cartridges at large savings.
For more discount houses, refer to the guidebooks and pamphlets listed on page 24.
As Europe moved toward war, the world's financial markets became highly disorganized, especially after acceptance and discount houses in London shut down their operations.
We're bringing our Award-winning technology to the trader at a price-level that beats some of the deepest discount houses around.
Further, Lending NBFCs Leasing Companies, Investment Banks, Housing Finance Companies and Discount Houses have also been segregated in non-deposit taking and deposit-taking entities with distinct regulatory requirements.
The apex bank has released a new code of corporate governance for banks and discount houses in Nigeria and guidelines for whistle-blowing in the Nigerian banking industry.
Its shareholders are the Central bank of Nigeria, Financial Market Dealers Association, FMDA, the Nigerian Stock Exchange through NSE Consult Limited and the 25 commercial banks and three discount houses.
With growing middle-income group, increasing awareness about foreign brands, expanding urbanization, and consumer's propensity to convenient shopping, Pakistan is emerging as a lucrative retail food market for local as well as international supermarkets, hypermarkets, fast-food restaurants, discount houses, canteen stores department, and so forth.