day loan

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.
References in periodicals archive ?
The move comes on the final day loan deals can be completed to teams in the Sky Bet Championship or lower, with Reds youngsters Sheyi Ojo and Jerome O Sinclair already on loan at Wigan Athletic.
MINISTER for Communities and Tackling Poverty, Lesley Griffiths, has warned people in Wales against borrowing from pay day loan companies and high cost money lenders this Christmas.
The union said at its national conference in Nottingham that a living wage of PS10 an hour would free workers from having to use pay day loan "sharks".
THERE has been a tremendous amount of controversy in the news recently regarding pay day loan companies, all of whom charge extortionate amounts in their annual percentage rates (APR).
The call comes from Meltham insolvency expert Peter Sargent after a survey by insolvency industry trade body R3 showed that almost half the adult population struggle to make their finances stretch to pay day - and that many are turning to pay day loan companies to bridge the gap.
When you convert the interest rate of a pay day loan to an APR, the costs involved can appear exorbitant, however, because of their short-term nature expressing the rate as an APR can be misleading.
Makes 20-25% interest monthly on 60 day loan agreements.
Blackpool have boosted their survival hopes after making deadline day loan swoops for Oldham striker Lee Hughes and Plymouth midfielder Simon Walton.
In case of liquidity problems at commercial banks, the National Bank will extend loans for more than 6 months, including overnight, day loan and last instance loan re-financing tools.
On another issue, Hahn criticized Villaraigosa's support for the Pay Day loan companies, saying it takes advantage of minorities and the poor with high check-cashing rates.
DGSE's growing consumer loan activities are represented by Pawn Shop activities under the name National Pawn and Pay Day loan activities under the name American Pay Day Centers.
The Blues boss (left, with Lukaku) is increasingly irritated by what he sees as the striker's rewriting of history since his deadline day loan move to Everton.