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Bank Credit in Nigeria

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Questions and Answers

What is the typical repayment condition for bank overdrafts?

Repayable after a year without notice

Repayable only during 'credit squeeze' conditions

Repayable immediately without notice

Repayable on demand with reasonable notice (correct)

How are bank credit interest rates tied?

To fixed government rates

To other market rates of interest (correct)

To the company's credit rating

To the company's revenue

What is a characteristic of commercial paper?

Dependent on government regulation

Only available to small companies

Unsecured money market instrument (correct)

Secured long-term investment

How do larger companies' credit ratings affect overdraft interest rates?

<p>They may pay overdraft interest at the bank's PRIME rate</p> Signup and view all the answers

What type of companies can raise short term funds by issuing commercial notes?

<p>Larger companies with good credit rating</p> Signup and view all the answers

Bank Credit in Nigeria

Choose a study mode

Podcast

Questions and Answers

What is the typical repayment condition for bank overdrafts?

How are bank credit interest rates tied?

What is a characteristic of commercial paper?

How do larger companies' credit ratings affect overdraft interest rates?

What type of companies can raise short term funds by issuing commercial notes?

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