What is commercial paper?


What is commercial paper?

Answer and ExplanationSolution by a verified expert


Commercial paper is usually issued in denominations of $100,000 or more with an interest rate slightly below the prime rate.  Although unsecured, commercial paper is asset backed paper secured by small short-term loans and credit card debt.

Verified Answer

Commercial paper is unsecured, short-term promissory notes of large companies.

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