Sweep
Sweep
The act of using all available
cash flow for the repayment of
debt service.
Sweep
1. To use all
cash flow currently available to
service debt. This can lead to
liquidity problems.
2. To transfer
funds into an interest-bearing account automatically. Some
brokerages sweep extra
cash into such accounts on behalf of their clients.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
sweep
To automatically move cash balances into an interest-earning money market fund. Certain brokerage firms offer to perform this activity for some or all of their accounts.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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