Daylight Overdraft definition

Daylight Overdraft means an intraday settlement obligation of the Company to a Clearing Member incurred in the ordinary course of business in accordance with the Rules. Any such obligation not settled by the close of business on the date incurred shall then cease to be a Daylight Overdraft.
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Daylight Overdraft is hereby deleted in its entirety.
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Daylight Overdraft means a negative balance in an institution’s account at any point in a business day. A daylight overdraft occurs at a Federal Reserve Bank when there are insufficient funds in an institution’s Federal Reserve Bank account to cover outgoing funds transfers or incoming book-entry securities transfers. An overdraft can also be the result of other payment activity processed by the Federal Reserve Bank, such as check or automated clearinghouse transactions.
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Examples of Daylight Overdraft in a sentence

  • For more information on fully collateralized cap breach waivers, refer to part B of the Daylight Overdraft Monitoring and Management section (IV) of this Guide.

  • For more information on monitoring, refer to the Daylight Overdraft Monitoring and Management section (IV) of this Guide.

  • Calculation of Daylight Overdraft Charges‌ Under the PSR policy, institutions with regular access to the discount window are only charged for uncollateralized daylight overdrafts.

  • Daylight Overdraft Monitoring and Management‌ The information provided in this section is intended to assist institutions in managing their Federal Reserve account balances.

  • For more information on how the Federal Reserve calculates daylight overdraft fees for such institutions, refer to part A of the Daylight Overdraft Fees section (V) of this Guide.

  • Daylight Overdraft Fees‌ This section describes how daylight overdraft charges are calculated and assessed for institutions that incur uncollateralized daylight overdrafts and have regular access to the discount window.

  • Institutions Subject to Daylight Overdraft Penalty Fees‌ Under the PSR policy, institutions that have Federal Reserve accounts but lack regular access to the discount window are not eligible for a positive daylight overdraft cap and may not incur daylight overdrafts.

  • Major services provided by the Bank on behalf of the System and for which the costs were not reimbursed by the other Reserve Banks include Standard Cash Automation, Currency Technology Office, IT Transformation Initiatives, Enterprise-wide Security Projects, Enterprise Security Operations Coordination, the Payroll Central Business Administration Function, Daylight Overdraft Reporting and Pricing, and the National Procurement Office.

  • Example of Daylight Overdraft Charge Calculation‌ Figure V-1 below provides an example of how the Reserve Banks use ex post end-of- minute balance and collateral information to calculate an institution’s charges.

  • This additional collateral will not be available for discount window purposes but will be available for PSR purposes, including supporting a max cap, securing daylight overdrafts for a zero fee, and qualifying for a fully collateralized cap breach waiver, if eligible.31 For more information on fully collateralized cap breach waivers, refer to part B of the Daylight Overdraft Monitoring and Management section (IV) of this Guide.


More Definitions of Daylight Overdraft

Daylight Overdraft means an intraday settlement obligation of the Company to a Clearing Member incurred in the ordinary course of business in accordance with the Rules. Any such obligation not settled by the close of business on the date incurred shall then cease to be a Daylight Overdraft. 136129539
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Related to Daylight Overdraft

  • Overdraft means any payment or transfer of funds on behalf of a Fund or series of a Fund for which there are, at the close of business on the date of such payment or transfer, insufficient funds held by the Custodian on behalf of such Fund or series thereof.

  • Overdraft Rate means the per annum rate of interest, regardless of compounding frequency, designated by the Financial Institution as its “Overdraft Rate” from time to time.

  • Overdraft Facility or ‘Facility’ means an authorised debit balance that may be offered to you at our discretion from time to time allowing your Account to go overdrawn up to an agreed Overdraft Limit.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Swing Line Facility means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • electronic credit ledger means the electronic credit ledger referred to in sub-section (2) of section 49;

  • Facility Account means the account numbered 0000000 maintained by Seller in the name of “PDC Funding Company, LLC” at JPMorgan, together with any successor account or sub-account.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

  • Swing Line means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Swing Line Rate means an interest rate per annum offered by the Swing Line Lender with respect to the Swing Line Loans, as determined in its sole discretion, but in any event not in excess of the rate applicable to Base Rate Loans at the time of determination.

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • Central Bank Rate Spread means, with respect to any RFR Banking Day, the difference (expressed as a percentage rate per annum) (calculated by the Administrative Agent) between: (i) XXXXX for that RFR Banking Day; and (ii) the Central Bank Rate prevailing at the close of business on that RFR Banking Day.