Are standby letter of credits the subject of trading?
There is no public market for the trading of standby letters of credits.
Standby letters of credits can only be transferred or the proceeds
assigned in private transactions (as previously noted above).
Standby letters of credit do not have CUSIP or ISIN numbering.
Standby letters of credits are not trading securities, trading debt
instruments, or trading investment funds, and therefore are not
subject to the rules and regulations of the Security and Exchange
Commission.