Its job was simply to supply an "elastic currency": when banks were short of cash, they could borrow from the Fed's discount window, pledging loans to farms and other businesses as collateral.
I'm struck more than anything else by how much searching and asking and reflecting he's done, this man I'd so quickly discounted, who pledged a fraternity when he was still on my radar and then, when he wasn't, quit in protest over how it had blackballed a Korean pledge candidate and a gay one.
For this reason, Forbes applied a 50% discount to the pledged shares.
He and General Counsel Angela Jeffers explained that LendUp offered a 30 cents per day discount if borrowers pledged to pay back early.
When pricing a mortgage-backed credit risk tool, Cossin and Hricko (2003) identified the discount rate of the pledge (subtract pledged loan-to-value ratio from 1).
Those fat slates of discounted delegates — 210 pledged delegates and 28 superdelegates in Florida and 156 pledged delegates and 25 superdelegates in Michigan — have become more and more valuable as the two Democratic candidates march neck-and-neck through this incredible, cliffhanging, elongated primary season.
It uses a similar auction structure to the long-term repo auctions but allows banks to pledge discount-window-style collateral for a minimum fee of 1.25 percentage points over the bank's base rate.
They are also pledging discounted homes for first-time buyers, a £1bn fund to "unlock" sites for 400,000 brownfield homes and an extension of the help-to-buy scheme aimed at first-time buyers.
Florida Democratic powerhouse Bob Graham declined on Tuesday night to affirm whether or not Sen. Hillary Clinton had switched her position on a DNC pledge discounting the state's delegates.
With consumers cutting spending, the clubs -- which sign up a majority of their members in January, capitalizing on New Year's pledges -- are discounting initiation fees and offering other incentives to join.
