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overnight sweep account

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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.

Thank you!
dblanche
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Summary of answers provided
naحساب تصفية ليليةFuad Yahya


  

Answers


2 hrs
حساب تصفية ليلية


Explanation:
Pronounced: HISAB TASFIYA LAYLIYA

First, here is the reference: The Texas School Performance Review Glossary of Investment Terms, which can be found at:

http://www.window.state.tx.us/tspr/inv/glos1b.html#o

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.”

Fuad


    See citation above
Fuad Yahya
Native speaker of: Native in ArabicArabic, Native in EnglishEnglish
PRO pts in pair: 7167
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