Fed Funds Business Day definition

Fed Funds Business Day means any day upon which overnight federal funds transactions are conducted.
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Fed Funds Business Day. Any day other than a Saturday or Sunday or a day on which banking institutions in New York City are closed.
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Fed Funds Business Day. Means any day other than a Saturday or Sunday or a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.
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Examples of Fed Funds Business Day in a sentence

  • The Fed Funds Rate in effect on each day of each Fed Funds Calculation Period will be (a) if such day is a Fed Funds Interest Reset Date, the Fed Funds Rate determined as of such Fed Funds Business Day (each a "Fed Funds Interest Determination Date"), or (b) if such day is not a Fed Funds Interest Reset Date, the Fed Funds Rate in effect on the immediately preceding Fed Funds Interest Reset Date.


More Definitions of Fed Funds Business Day

Fed Funds Business Day means any day upon which overnight federal funds transactions are conducted. “Federal Funds Effective Rate” shall mean, for any day, the rate per annum calculated by the FRBNY, based on the prior day's overnight federal funds transactions (as determined in such manner as the FRBNY shall set forth on its public website from time to time), as the federal funds effective rate (which rate is, in general, published by the FRBNY on such day for the prior FRBNY Business Day), provided that if such day is not a Fed Funds Business Day, then the Federal Funds Effective Rate shall be such rate as in effect on the Fed Funds Business Day immediately preceding such day, provided further that if the Federal Funds Effective Rate as so determined for any day would be less than the Floor, such rate for such day shall be deemed to be the Floor for all purposes of this Agreement. “Financial Contract Liability” means, at any time, the net amount of the liability, if any, that a Person has under each Financial Contract to which such Person is a party, in each case determined on a mark to market basis in accordance with Generally Accepted Accounting Principles. “Financial Contracts” means option contracts, options on futures contracts, futures contracts, forward contracts, options on foreign currencies, foreign currency contracts, repurchase agreements, reverse repurchase agreements, mortgage rolls, credit linked notes, indexed securities, firm and standby commitment agreements, securities lending agreements, when-issued contracts and securities, swap, swaption, floor, cap, or collar agreements, short sales, and other similar arrangements, investment techniques and other obligations that would be, but for the segregation of assets thereof, Senior Securities. “Floor” means a rate of interest equal to 0.0%. “Foreign Bank” means any Bank that is organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. “Foreign Issuer” means any Issuer that is organized under the laws of a jurisdiction other than the United States, any State thereof, or the District of Columbia. “FRBNY” shall mean the Federal Reserve Bank of New York, or any successor thereto that publishes the Federal Funds Effective Rate. “FRBNY Business Day” shall mean each business day that is not included in the FRBNY’s holi...
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Fed Funds Business Day means any day upon which overnight federal funds transactions are conducted. “Federal Funds Effective Rate” shall mean, for any day, the rate per annum calculated by the FRBNY, based on suchthe prior day’'s overnight federal funds transactions (as determined in such manner as the FRBNY shall set forth on its public website from time to time), as the federal funds effective rate (which rate is, in general, published by the FRBNY on such day for the prior FRBNY Business Day immediately succeeding such day), provided that if such day is not a Fed Funds Business Day, then the Federal Funds Effective Rate shall be such rate as in effect on the Fed Funds Business Day immediately preceding such day, provided further that if the Federal Funds Effective Rate as so determined for any day would be less than zerothe Floor, such rate for such day shall be deemed to be zerothe Floor for all purposes of this Agreement. USA.605252047.1/MPD 13
Sample 1
Fed Funds Business Day means any day upon which overnight federal funds transactions are conducted. “Federal Funds Effective Rate” shall mean, for any day, the rate per annum calculated by the FRBNY, based on the prior day's overnight federal funds transactions (as determined in such manner as the FRBNY shall set forth on its public website from time to time), as the federal funds effective rate (which rate is, in general, published by the FRBNY on such day for the prior
Sample 1

Related to Fed Funds Business Day

  • USGS Business Day means any day except for a Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association or any successor thereto (“SIFMA”) recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in U.S. government securities.

  • Domestic Business Day means any day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized by law to close.

  • FX Business Day is any day when (a) Bank’s Foreign Exchange Department is conducting its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency.

  • TARGET2 Business Day means, a day in which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System or any successor is open.

  • Bank Business Day means a day on which the Bank conducts business activities as per its effective opening hours, so when the Bank is open for the purpose of executing payment transactions.

  • Relevant Business Day means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007 (TARGET2) is open for the settlement of payments in EUR.

  • Euro Business Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System, or any successor system, is open for business.

  • CSD Business Day means a day on which the Book-Entry Securities System is open in accordance with the regulations of the CSD.

  • Canadian Business Day means a day of the year on which banks are not required or authorized by law to close in Toronto, Ontario or in Mxxxxxxx, Xxxxxx, Xxxxxx or New York, New York.

  • Fund Business Day means any day on which the NAV of Shares of each Fund is determined as stated in the then current Prospectus.

  • Index Business Day means, in respect of an Index, any day on which the Index Sponsor in respect of such Index is scheduled to publish the level of the Index.

  • PRC Business Day means a day (other than a Saturday, Sunday or public holiday) on which commercial banks are generally open for business in Beijing;

  • Payment Business Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Stockholm and Frankfurt am Main and on which the Clearing System settles payments in the Issue Currency.

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Singapore Business Day means a day (except Saturdays, Sundays and public holidays) on which commercial banks are open for business in Singapore.

  • non-business day means Saturday, Sunday and any other day that is a holiday as defined in the Interpretation Act (Canada);

  • Determination Business Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange) in Hong Kong, London and New York City;

  • Banking Business Day means any day other than a Saturday or Sunday that is not a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.

  • Currency Business Day means a day on which commercial banks and foreign exchange markets are open for general business (including dealings in foreign exchange and foreign currency deposits) in the principal financial centre of the Relevant Currency or, in the case of euros, a city in which banks in general have access to the TARGET2 System.

  • New York Business Day means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally authorized or obligated by law or executive order to close.

  • SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Eurodollar Business Day means any Business Day on which major commercial banks are open for international business (including dealings in Dollar deposits) in New York, New York and London, England.

  • Valuation Business Day means, with respect to each Reference Currency, any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which commercial banks are authorized or required by law, regulation or executive order to close (including for dealings in foreign exchange in accordance with the practice of the foreign exchange market) in the city or jurisdiction indicated in the table below:

  • Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.

  • RFR Business Day means as applicable, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to (i) Sterling, a day on which banks are open for general business in London and (ii) Euro, a TARGET Day.

  • LIBOR Business Day Any day on which banks in London, England and The City of New York are open and conducting transactions in foreign currency and exchange.