A medium-term arrangement under which a borrower can issue short-term paper (Euronotes) backed up by commercial bank underwriting commitments. There are several variations of this system. They include 1) the NIF, where the commitment is typically from five to seven years, while the paper is issued on a revolving basis, usually for three- or six-month maturities, though maturities do range from seven days to a year. Most are denominated in U.S. dollars and involve six-figure or higher sums. 2) the short-term note issuance facility (SNIF), a term used for NIFs with short-term notes. 3) the RUF, which is a variation of the NIF, with separate underwriting and distribution (the lead manager being sole placing agent, while the underwriters take up any notes which cannot be placed or extend loans of equivalent amount). 4) the transferable RUF (TRUF), where the underwriting commitment is transferable. 5) the multiple component facility and others such as borrower's option for notes and underwritten standby (BONUS), revolving acceptance facility by tender (RAFT), securitized note commitment facility (SNCF), etc. Note purchase facility and euronote facility are the generic terms and note issuance facility is often used as a generic term. French generally uses the English term, though the above translations have been seen.