sweep account

 

 

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sweep account

 

Glossary of money, banking and financial markets

 

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Economics

 

Definition of sweep account

 

sweep account: An arrangement in which any balances above a certain amount in a corporation's checking account at the end of a business day are "swept out" of the account and invested in overnight repos that pay the corporation interest.

 

Source : http://college.vatc.edu.vn/attachments/article/152/Glossary%20-%20MONEY,%20BANKING,%20&%20FINANCIAL%20MARKETS.doc

link: http://college.vatc.edu.vn/

Author : not indicated on the source document of the above text

 

Glossary of money, banking and financial markets

 

Economics money banking and financial market glossary index of terms

 

 

Definition and meaning of sweep account

 

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