back-to-back credit

Definitions

Banking

  • noun credit facilities for the purchase of goods, where the credit is asked for by the purchaser, but is granted to a middleman, who buys the goods, then sells them on to the final purchaser, and uses the credit as a basis for obtaining further credit facilities
  • noun credit in a currency allowed to a foreign trader on the basis of credit which has been granted by a bank in the trader’s own country
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