Domestic exchange loan. There is practically no such thing as a loan of domestic exchange.
When a loan is obtained from a bank it ordinarily delivers to the borrower a check on itself made
out by its cashier (it is called a cashier's check) which the borrower may use in the place where
issued or may transmit to any other place.
The bank will, if desired, furnish to the borrower a draft on a bank in some other place, but this
draft lacks many of the characteristics of a bill of exchange. The borrower merely borrows (obtains
a loan) and it is a matter of arrangement with the bank as to the form in which he shall receive the
amount which he borrows.
Also see Foreign exchange loan.