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18:40 May 15, 2001
English to Arabic translations [PRO] Bus/Financial
English term or phrase:overnight sweep account
No context is provided. Provide source if available. Give me an idea.
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.”