BROWSE

Day Loan

What is 'Day Loan'

A temporary transfer of funds from a bank to an individual broker or a brokerage firm that is made early in the day for the purchase of securities that same day. The securities serve as collateral for the day loan, which must be repaid by the end of the day.


Also called a "morning loan".

Explaining 'Day Loan'

A day loan is a source of very short-term funding. Once the securities have been purchased, the loan becomes a regular broker call loan, and may become due at any time. Brokers must pay a daily interest rate, known as the "call rate", on these loans.


Further Reading


Payday loans and credit cards: New liquidity and credit scoring puzzles?
pubs.aeaweb.org [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Remembering to pay? Reminders vs. financial incentives for loan paymentsRemembering to pay? Reminders vs. financial incentives for loan payments
www.nber.org [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Financial literacy and financial behavior: Assessing knowledge and confidence.Financial literacy and financial behavior: Assessing knowledge and confidence.
search.ebscohost.com [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Monitoring by financial intermediaries: Banks vs. nonbanksMonitoring by financial intermediaries: Banks vs. nonbanks
link.springer.com [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Do bank loan relationships still matter?Do bank loan relationships still matter?
www.jstor.org [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Discount window stigma during the 2007–2008 financial crisisDiscount window stigma during the 2007–2008 financial crisis
www.sciencedirect.com [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Fear and greed in financial markets: A clinical study of day-tradersFear and greed in financial markets: A clinical study of day-traders
pubs.aeaweb.org [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Stigma in financial markets: Evidence from liquidity auctions and discount window borrowing during the crisisStigma in financial markets: Evidence from liquidity auctions and discount window borrowing during the crisis
papers.ssrn.com [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …

Banks and loan sales marketing nonmarketable assetsBanks and loan sales marketing nonmarketable assets
www.sciencedirect.com [PDF]
… credit card delinquency as an indicator for whether an account becomes 90 days past due … do credit card issu- ers not aggressively seek information about pay- day borrowing by … Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use …


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