overnight call loan; loan repaid the next day
Financial term for a very short-term loan, typically in the call money market, that is repaid on the next business day.
Financial institutions use overnight call loans to cover short-term funding shortages.
The interest rate on overnight call loans fluctuates daily.
Compound of 翌日 (よくじつ, 'next day') + 物 (もの, 'thing, item'), referring to a financial instrument that matures the next day.