Banker's acceptance - ginkou hikiukete gata (English spelling)

Japanese: 銀行引受手形 - ぎんこうひきうけてがた（英語表記）banker's acceptance

A term bill of exchange that is signed and accepted by the bank itself as the payor. It usually refers to a bill issued based on a letter of credit and addressed to the bank itself or a corresponding bank, which is accepted by the drawee bank. The bank immediately accepts the bill after presenting it and returns it to the presenter, who then raises funds by selling it to the end consumer through a dealer in the bill acceptance market. Bills accepted by first-class banks are highly secure, allowing those in need of funds to raise market funds at low interest rates, while those with surplus funds are an ideal target for short-term investment. This trading market has developed significantly in New York and London. Japanese exchange banks also often use bank acceptances in New York to raise foreign currency funds.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

銀行がみずから支払人として引受署名を行なった期限付為替手形。通常は信用状に基づいて振出された自行あるいは取引銀行あての手形を名宛銀行が引受けたものをいう。銀行は手形の呈示後ただちに引受けて呈示人に返還し，呈示人はこれを引受手形市場においてディーラーを通じて最終消費者に売却することにより資金を調達するのがたてまえである。一流銀行の引受けた手形は安全度が高く，資金需要者は低利で市場資金を調達でき，一方，余剰資金の保有者にとっては短期投資の好対象となる。この取引市場はニューヨーク，ロンドンにおいて発達が著しい。日本の為替銀行も外貨資金調達のためにニューヨークで銀行引受手形を利用することが多い。

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