Enable Java Script

Either your browser does not support JavaScript, or you have JavaScript disabled.
You must have a JavaScript-enabled browser to use this site.

Microsoft Internet Explorer

To turn on JavaScript in Internet Explorer, follow these steps:

  1. On the Tools menu, click Internet Options, and then click the Security tab.
  2. Click the Web content zone that you are using (for example, click Local Intranet),
    and then click Custom Level button.
  3. Locate Active scripting under Scripting settings. Click to select the Enable radio button.
  4. Click OK button on Security Settings and Internet Options windows to save your changes.

To download Internet Explorer 7, click here.


To turn on JavaScript in Firefox, follow these steps:

  1. On the Tools menu, click Options.., and then click the Content tab.
  2. Click to select the Enable JavaScript check box.
  3. Click OK button to save the setting.

To download Firefox 2, click here.


To turn on JavaScript in Safari, follow these steps:

  1. Open Safari
  2. On the Safari menu, click on Preferences.
  3. Click the Security icon.
  4. Click on Enable JavaScript next to the Web Content section if it is not checked
  5. Close the Preferences window
  6. Close and restart Safari.

Opera 9.xx series

To turn on JavaScript in Opera 9.xx series, follow these steps:

  1. Open Opera.
  2. On the Tools menu, click Preferences.
  3. Click Content in the Preferences list.
  4. Check the box next to Enable JavaScript.
  5. Click the JavaScript Options button to open the JavaScript Options box.
  6. Check the boxes that you want to allow.
  7. Click OK.
  8. Click OK.

Google Chrome(v0.4.154.23)

To turn on JavaScript in Google Chrome(v0.4.154.23), follow these steps:

  1. First close any open Chrome windows.
  2. Right click on a blank area of your Desktop.
  3. Select New.
  4. Create a new Shortcut with the following in the "Type the location of the item:" text box:
    • For Windows Vista:
      %userprofile%\Local\Google\Chrome\Application\chrome.exe -enable-javascript
    • For Windows XP:
      "%userprofile%\Local Settings\Application Data\Google\chrome.exe" -enable-javascript
      Note: You'll have to enclose the file path for Windows XP in quotes due to there being spaces in it.





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Direct Pay Standby Letters of Credit

​Harness the power of M&T Bank's credit rating. ​




​​​​​​Your Cash Alternative

Direct Pay Standby Letters of Credit are hybrid financial vehicles that are typically associated with taxable or tax-exempt bond-financed projects. These Letters of Credit allow you to utilize the credit rating of M&T (the iss​uing bank), as well as actually make payments to the trustee responsible to bondholders.

​In structures that utilize Direct Pay Letters of Credit, the Letter of Credit may be drawn upon by the fiduciary – such as a bond trustee – without first relying on funds provided by the client.

​​Provides Investor Confidence

Potential investors or parties to a business transaction react positively not only to the issue of a Letter of Credit, but also to the credit ratin​g of the bank providing this credit enhancement.

Variable or Fixed-Rate Options

There are three major types of tax-exempt bonds that Direct Pay Letters o​f Credit back. The bonds differ by variable or fixed-rate and their maturity:

  • Seven-Day Low Floaters
  • One-Year Floaters
  • One-Year Term


Cost-e​ffective credit enhancement is the most important requirement for a Letter of Credit bid to be accepted by a Letter of Credit prospect.

Getting Started

To get started, call your M​&T Relationship Manag​​​​er or our International Trade Finance Group​ to obtain credit approval and complete the necessary legal documentation. ​