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|English to Arabic translations [PRO]|
|English term or phrase: overnight sweep account|
|No context is provided. Provide source if available. Give me an idea.|
حساب تصفية ليلية
Pronounced: HISAB TASFIYA LAYLIYA
First, here is the reference: The Texas School Performance Review Glossary of Investment Terms, which can be found at:
Now, here is the explanation of the term: According to this glossary, an overnight sweep account is “a bank account that automatically invests available cash balances at the end of the day into overnight investments.”
The same glossary defines overnight investment as “an investment that matures the day after it is purchased.”
See citation above
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