eligible bank Meaning in the Cambridge English Dictionary
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Meaning of “eligible bank” in the English Dictionary

"eligible bank" in Business English

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eligible banknoun [C]

uk   us   BANKING
in the UK, a ​bank that is ​approved by the Bank of England to ​accept particular bills of ​exchange (= ​documentsorderingpayment for ​goods or ​services), which the Bank of England has ​agreed to ​buy immediately: Most of the ​majorbanks that ​operate in the City of London are on the ​list of ​eligiblebanksmaintained by the Bank of England.
(Definition of eligible bank from the Cambridge Business English Dictionary © Cambridge University Press)
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