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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
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.
References in periodicals archive ?
Everton signed Andre Gomes and Kurt Zouma in deadline day loan moves last summer, and it is expected the pursuit of a new rightback will go into the closing stages of the window.
A No Fax pay day loan is just a guarantee to prevent the hassles of looking for fax devices to deliver programs up to a loan provider.
markets and the value he places on the contribution from consumer lending "is very low." While he had been expecting a slower exit from the Ohio pay day loan and installment loan products and less of a final hit to EPS, he also thinks moving away from this product makes sense for a number of reasons.
A pay day loan company has been given the go ahead to open up in a busy Birmingham high street despite claims they attract anti-social behaviour
From its artisan bakers selling their wares at prices that working class people would have to take a pay day loan out for to its art and craft galleries and designer children's wear.
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".
By contrast, the deadline day loan deal for Blackpool winger Tom Ince cost Palace PS250,000 more than expected after a row with Tangerines' owner Owen Oyston.
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.
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.