eligible paper

noun

, Banking.

1. notes, bills, and acceptances qualifying for rediscount by a Federal Reserve Bank.

Example Sentences

The market will continue to worry about the apparent shortage of eligible paper the ECB faces, however.

From Wall Street Journal

The Federal Reserve Board is authorized to define more precisely the nature and character of eligible paper.

From Project Gutenberg

The banks thus accommodated, however, must pay an interest rate at least 1% more than that charged for now eligible paper.*

From Time Magazine Archive

To do so they take their eligible paper to the Federal Reserve Bank in their district, rediscount it.

From Time Magazine Archive