A bank guarantee and a letter of credit are both promises from a financial institution that a borrower will be able to repay a debt to another party, no matter the debtor's financial circumstances.

A letter of guarantee constitutes a strong security ... the more important the content and the time of submission. If there are lapses the bank is not obliged to pay. The issuing bank’s ...

Here's the full text of the letter that the NY Fed, BlackRock, PIMCO, and others sent to Bank of America regarding ... FGIC, Assured Guaranty, and other mortgage and mono-line insurers of specific ...

Bank guarantees represent a much more significant commitment for banks than letters of credit. A bank guarantee, like a letter of credit, guarantees a sum of money to a beneficiary; however ...

This operated through letters of credit, which during the capital controls period had to be backed by firms’ own cash collateral rather than the bank guarantee. As a result, cash-poor firms imported ...