OFFICIAL INTEREST RATE Definition

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OFFICIAL INTEREST RATE, normally, is the rate of interest charged by the government or traders within the money market, e.g., federal funds rate and bank repurchase agreement (repo rate).

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DISCOUNT PAPER is securities that are issued at a discount and mature at face, or par value. The difference, rather than coupon payments, represents the interest earned at maturity .

BILLINGS, generally, is the request for payment of a debt. In accounting, it is sales for which invoicing has been issued.

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