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.
Companies who specialize in certain products and, therefore may have to offer them at a higher price than the discount houses, must be able to sell the consumer on their product's quality and their customer service.
Historically, discount houses who wished to obtain funds in open market transactions were restricted to the use of Treasury bills or certain eligible commercial bills.(19) In situations where the supply of these bills was limited, the money market would experience liquidity pressures as discount houses attempted to obtain bills to sell to the Bank of England.
The first to operate in this way were the large discount houses which mostly sell products under own label or "fantasy" (i.e.
The core of the study is a sample of 460 directors, partners and general managers drawn from a large section of London's joint stock, private, colonial and merchant banks, discount houses and the Bank of England.
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.
The Bank won the coveted award for its compliance with the Sustainable Banking Principles as it relates to the management of Environmental and Social Risk set out by the CBN for adoption by Nigerian Banks, Discount Houses and Development Banks.
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.