Meaning of “overnight loan” in the English Dictionary

business-english dictionary

"overnight loan" in Business English

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overnight loannoun [ C ]

uk us

BANKING, FINANCE a loan that a bank makes to another bank for a short period of time:

The federal funds rate which is charged on overnight loans between banks is at an historic low.

FINANCE →  payday loan

(Definition of “overnight loan” from the Cambridge Business English Dictionary © Cambridge University Press)