Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Rediscount
n. 1. The act or process of discounting a negotiable instrument that has already been discounted, as by a bank. 2. (usu. pl.) A negotiable instrument that has been discounted a second time. - rediscount, vb. See DISCOUNT.
rediscount rate
The interest rate at which a member bank may borrow from the Federal Reserve on a loan secured by commercial paper that has already been resold by the bank. stated rate See nominal rate.