Definitions for "Accepting House"
These are financial institutions specializing in endorsing acceptances of their customer's bills so that they can be discounted at favourable rates in the discount market.
A non-bank financial institution that specializes in "acceptance financing." Also, the term is used to indicate a member of the "London Accepting House Committee."
An accepting house is a primarily British institution which specializes in the acceptance and guarantee of bills of exchange thereby facilitating the lending of money. They now have taken on other functions as the use of bills has declined, returning to their original wider function of merchant banking. The 'Accepting Houses' in the City of London have representation in Westminster by the Accepting Houses Committee which ensures policy coordination them, the treasury and the Bank of England.