BILLS RECEIVABLE, in merchant accounts, are all promissory notes, bills of exchange, bonds, and other evidences or securities which a merchant or trader holds, and which are payable to him.
CAPITAL SURPLUS is an archaic term. See PREMIUM ON CAPITAL STOCK.
REGULAR SETTLEMENT is 1) For short-term or U.S. Treasury securities, the settlement, or payment and delivery, is the next business day after the trade date. 2) For corporate notes, bonds and municipal securities, settlement is in five business days. 3) For mortgage-backed securities, settlement is after the 15th of the month. 4) For Eurodollar Certificates of Deposit, settlement is two business days after the trade date. Also known as "Regular Way.'
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