The author pointed out that the legal nature of notediscount should be the two parties' legal act of bill right transfer by analyzing defects of "the loan doctrine" and "the note act doctrine".
Deep discount bond note: bond with relatively low-coupon rate of interest offered with a discount in excess of what can normally be treated as capital gain by the investor.
When bill discount, the bank presses fixed interest rate from bill expire deduct in the value come from loan day of note maturity should plan accrual, pay the person that oppose a bill more than.