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Economic Perspectives, Vol. 11, 3rd, No. 4, July 1987
Standby letters of credit

This article focuses on one off balance sheet banking activity—standby letter of credit issuance—to understand its value as a banking service, its growth, and its market-related determinants.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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