organization that purchases and discounts bankers' acceptances and trade acceptances, bills of exchange, and commercial paper. Acceptances are money market instruments. They are counted as loans when held by the reporting bank, through discounting its own acceptances of purchases in the market. Discount houses are financial intermediaries in Great Britain and several European countries, but not in the United States.
retail store that offers merchandise for sale at lower prices than conventional stores that sell merchandise at list prices or suggested retail price; also called discount store. Although most discount houses offer well-known national brands, they can afford to sell at a reduced markup because they are generally a "no-frills" operation. They reduce overhead costs by offering merchandise on a self-service basis, by providing a minimum of decor, fixtures, and facilities, and sometimes by operating in a low-rent area. The discount house may be a mass merchant, such as K-mart, or a specialty merchant, such as Toys "R" Us for toys. The warehouse retailer and the catalog store (that sells primarily from a catalog) are also considered variations of the discount house. Since the middle 1960s, discount house chains have accounted for more sales volume than all the conventional department stores combined.
