two-name paper

two-name paper

n
(Banking & Finance) finance US a commercial paper signed by two persons both of whom accept full liability
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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The real-bills theoreticians favored the use of two-name paper, but bankers began to employ other financial instruments.
In spite of the admonitions of real-bills advocates, markets in the nineteenth century moved away from two-name paper. After the Civil War, the single-name [TABULAR DATA FOR TABLE 2 OMITTED] unsecured promissory note - commercial paper - became the leading short-term instrument for farmers and merchants.
Only 19 percent of the bank's portfolio consisted of notes backed by personal security (one- or two-name paper) that were discounted for the benefit of signatories who were customers of the bank.