Same Day Funds

Same Day Funds

1. Funds in a financial institution that may be withdrawn or otherwise used on the same day they are deposited.

2. Fed funds transferred through the Fedwire.

2. See: Same-day funds settlement.
References in periodicals archive ?
The Same Day Funds Payment Task Force (commonly referred to as the P&I Task Force) composed of trustees, paying agents, depositories, banks, and broker-dealers, has had periodic communication with GFOA during this period.