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What does commercial paper mean?

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commercial paper
(CP)
Noun

A negotiable, unsecured typically straight discount bearer money market instrument with a maturity of less than one year, usually issued by large nonbank corporations with an excellent credit rating.

Synonym(s): 
  • corporate paper; paper.
Comment: 
As a mass word, the term is used in the plural form only when referring to different issues of commercial paper.
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