Banker’s Acceptance - BA

Kind of like a Treasury bill but with fewer calories, a banker's acceptance is a promise of future payment, where a banker accepts the responsibility of paying a creditor at a later date on behalf of a borrower. The banker takes the risk in case the payer disappears into thin air. They're often used in international trade transactions since they're a safe way to exchange money in the short term.

A banker's acceptance can also be traded at a slight discount to the face value and held until maturity, sort of like a bond.