Funds borrowed or lent for one business day, which is the shortest period for which a loan can be made. Such loans are made commonly in the interbank market and are callable by 11 a.m. next day. Banks usually borrow/lend at the end of the business day when interest rate is typically at the lowest level. If the intervening period includes a weekend, the loan is called weekend money, on which three days interest is payable. also called day-to-day money.
Related information about overnight money:
- What is overnight money? definition and meaning
Definition of overnight money: Funds borrowed or lent for one business day, which is the shortest period for which a loan can be made. Such loans are made ...
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- Canadian Overnight Money Market Rate Definition | Investopedia
A measure or estimate of the rate at which major dealers are able to arrange financing of securities inventory for one business day. It is compiled by the Bank of ...
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The average rate that financial institutions pay to borrow overnight money from institutions with surplus funds. Changes to this rate can influence interest rates ...
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Downloadable! In this paper, we analyze the network properties of the Italian e- MID data based on overnight loans during the period 1999-2010. We show that ...