uncovered bill

According to a report in the London Times (3 November 1987), these uncovered bills were 'promissory notes without collateral', and their total value was $500 million.

And Professor Davor Savin, of Maribor University, has pointed out (Danas, 25 August 1987) that there are hundreds of 'organizations of associated labour' which have issued illegal 'uncovered bills of exchange'.

The vice-governor of the National Bank, for example, has said (Politika, 27 August 1987) that the issue of uncovered bills of exchange is illegal, and that the Bihać bank broke the law by endorsing bills far beyond its entitlement.