PLEDGED ACCOUNTS RECEIVABLE Definition

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PLEDGED ACCOUNTS RECEIVABLE is short-term borrowing from financial institutions where the loan is secured by accounts receivable. The lender may physically take the accounts receivable but typically has recourse to the borrower; also called discounting of accounts receivable.

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BIG BANG are changes in UK stock exchange practices that took place in 1986. They permitted institutions such as banks and insurance companies to own stock exchange subsidiaries, abolished the segregation between brokers and jobbers and ended the system of fixed commissions.

UNFUNDED COMMITMENT is, as of any date of determination, the sum of legally binding calls upon current or future assets to where the assets or sums have not been identified or set aside to satisfy the commitment.

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