Because the money market instruments may be transferred or nonnegotiable. Money market instruments Negotiable, such as commercial paper or certificates of deposit bargaining, can be traded in the secondary market place; nonnegotiable monetary market instruments not traded, so there is no secondary market and must be held until maturity, such as inter-bank loans, purchase contracts, and federal funds . Nonnegotiable monetary market instruments are generally very short term - in many cases, such as with the purchase contract, the terms of a single day is common, so there is little need for a market secondary school
đang được dịch, vui lòng đợi..