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Daylight overdraft

• Being overdrawn (OD) in a deposit account during some of a day's business hours. Foreign banks typically run big daylight overdrafts with their U.S. correspondent bank. A daylight overdraft exposes the institution that extends it to a credit risk.

 
 Embedded terms in definition
 Correspondent
Credit risk
Credit
Foreign
Risk
Run
U
 
 Related Terms
 Overdraft system

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