day loan

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Day loan

A loan from a bank to a broker prior to the delivery of securities. Upon the delivery of the securities, a day loan becomes a regular broker call loan for which securities serve as collateral.

Day Loan

A loan that a bank extends to a broker in order to buy securities. The loan is due at the end of the same day it is extended. A day loan exists to provide a broker with funding until an ordinary broker call loan can be made. It is also called a morning loan.

day loan

A one-day loan made by a bank to a broker for the purchase of securities. The loan is used until delivery allows a regular call loan to be arranged.