Oftenreferred to as a businesscredit line, theseshort-termfinancing facilitiescome in a number of differentforms. Some ofwhichincludebillsof exchange, letters of guarantee, etc.
And many families also keep a sizable amount of money in their savings account or continue to put money into their 401(k)s, while still carrying thousands of dollars in credit-card debt--even though dipping into savings and paying off their credit-card bills would guarantee them an immediate return on investment of 15% or 18%.
Mr Davey told BBC News he couldn't guarantee all customers would see their bills cut, but the majority of people would benefit and it would be "easier" to get lower bills.