Promissory Bank Notes / Medium Term Notes / Prime Bank Guarantees
Has anyone ever heard of or know anything about promissory bank notes guaranteed by the government through banks such as for raising capital for infrastructure projects? Also known as Medium Term Notes or Prime Bank Guarantees, they are supposedly issued at a discount so banks can quickly raise funds, where essentially money is offered at a discount. I've heard that they are rare and reserved for the elite but essentially you could buy these promissory notes from the bank and sell them for profit the next day. Does anyone have insights or experience with this? Sound too good to be true?
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