An accepting house was a primarily British institution which specialised in the acceptance and guarantee of bills of exchange thereby facilitating the lending of money. They took on other functions as the use of bills declined, returning to their original wider function of merchant banking. The 'Accepting Houses' in the City of London had representation in Westminster by the Accepting Houses Committee which ensured policy coordination between them, the UK Treasury and the Bank of England. Bills endorsed by members of the Committee were originally eligible for rediscount at the Bank of England, although this right was eventually extended to other banks in the UK and abroad. The term accepting house was more of an indication of status rather than function.
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| - Accepting house (en)
- Maison d'acceptation (fr)
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| - An accepting house was a primarily British institution which specialised in the acceptance and guarantee of bills of exchange thereby facilitating the lending of money. They took on other functions as the use of bills declined, returning to their original wider function of merchant banking. The 'Accepting Houses' in the City of London had representation in Westminster by the Accepting Houses Committee which ensured policy coordination between them, the UK Treasury and the Bank of England. Bills endorsed by members of the Committee were originally eligible for rediscount at the Bank of England, although this right was eventually extended to other banks in the UK and abroad. The term accepting house was more of an indication of status rather than function. (en)
- En Droit cambiaire (Droit relatif au Change), une maison d'acceptation (Accepting house) était une institution principalement britannique spécialisée dans l' "acceptation bancaire" et la garantie des lettres de change facilitant ainsi le prêt d'argent. En France, au début du XXème siècle, l'article 121 du Code de commerce précisait « celui qui accepte une lettre de change contracte l'obligation d'en payer le montant » ; l'acceptation valait donc un engagement personnel et irrévocable du banquier qui la donnait, lequel devenait débiteur principal et direct du porteur. Un tel engagement, venant d'une grande banque, valait toutes les garanties. Il était très utilisé dans de commerce inter-national où souvent le client ne connait pas le vendeur et réciproquement. (fr)
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| - An accepting house was a primarily British institution which specialised in the acceptance and guarantee of bills of exchange thereby facilitating the lending of money. They took on other functions as the use of bills declined, returning to their original wider function of merchant banking. The 'Accepting Houses' in the City of London had representation in Westminster by the Accepting Houses Committee which ensured policy coordination between them, the UK Treasury and the Bank of England. Bills endorsed by members of the Committee were originally eligible for rediscount at the Bank of England, although this right was eventually extended to other banks in the UK and abroad. The term accepting house was more of an indication of status rather than function. Examples of UK accepting houses were Hambros Bank, Hill Samuel, Morgan Grenfell, Rothschild, J. Henry Schroder Wagg, Arbuthnot Latham, Seligman Brothers, William Brandts and S.G. Warburg. Most accepting houses were absorbed into larger banking entities during the 1980s and 1990s. (en)
- En Droit cambiaire (Droit relatif au Change), une maison d'acceptation (Accepting house) était une institution principalement britannique spécialisée dans l' "acceptation bancaire" et la garantie des lettres de change facilitant ainsi le prêt d'argent. En France, au début du XXème siècle, l'article 121 du Code de commerce précisait « celui qui accepte une lettre de change contracte l'obligation d'en payer le montant » ; l'acceptation valait donc un engagement personnel et irrévocable du banquier qui la donnait, lequel devenait débiteur principal et direct du porteur. Un tel engagement, venant d'une grande banque, valait toutes les garanties. Il était très utilisé dans de commerce inter-national où souvent le client ne connait pas le vendeur et réciproquement. Le terme "maison d'acceptation" était plus une indication de statut que de fonction. (fr)
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