Commercial paper is the long-term, unsecured notes of well-known business firms, such as IBM or General Electric (GE).

Name: Commercial paper is the long-term, unsecured notes of well-known business firms, such as IBM or General Electric (GE).
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Commercial paper is actually short-term (usually 2-270 days) and often used as a source of financing for day-to-day operations by corporations, financial institutions, and other large entities. It is unsecured, meaning it is not backed by any collateral.

Commercial Paper Is the Long-Term, Unsecured Notes of Well-Known Business