Commercial paper may either be dealer placed or directly placed. If it is dealer placed, the (61) sells its promissory notes to one of the ten-regular commercial paper dealers, which, in turn, sells it to others. If commercial paper is directly placed, the issuing corporation sells its notes directly in the market, without the intermediation of the (62) . This is the method used primarily by sales-finance companies because they (63) in the market on a virtually continuous basis. Sales-finance companies are companies that supply the credit for the installment purchase of major (64) items, for example, automobiles, refrigerators, and television sets. These companies find the commercial paper (65) particularly well suited to their needs since it enables them to adjust to swings in demand for installment purchases.

(46)

  Describe the procedure of direct bonds according to the numbers given in the following charter. Write your answer on the ANSWER SHEET.

  Write a bank letter according to the following requirements. Write your answer on the ANSWER SHEET.

  我们已收到以上跟单汇款，很抱歉，由于以下不符之处，我行不能付款。

  收到的质量、数量保证书是由受益人发的签发的，而信用证要求由制造商或公安检查机关签发关于商品质量、数量或我不是的证明。

  并要求通行受益人.

Foreign exchange includes various means of payments and assets denominated in a foreign currency that can be used for international settlement.

Common stock is paid in capital, which is regarded as the permanent capital of the business because it is not subject to withdrawal by the shareholders.

Written policies and procedures governing municipal securities activities should be maintained by state member banks engaged in these activities.

The management of the company is to raise ______.

The important distinction between the external financial market and the domestic financial market lies in that Eurocurrency banking is not subject to domestic banking regulations.

According to the passage, the phrase " holding shares in street name" probably refers to ______.

Being a shareholder of a public company means that ______.

The word "stake" in the first paragraph probably stands for ______.