DAYLIGHT OVERDRAFT
When a clearinghouse bank issues a payment during the day that is in excess of the originator's reserve account balance it is called as a daylight overdraft. Daylight overdrafts must be covered by the end of the business day. In order to encourage banks to manage and reduce potential default risks, the Federal Reserve Board assesses a charge for daylight overdrafts.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 05:00 | Credit Card Spending | Mar | |
| 14:30 | Industrial Product Price Index | Mar | |
| 14:30 | New Housing Price Index | Mar | |
| 14:30 | Raw Materials Price Index | Mar | |
| 16:00 | Consumer Confidence | Apr | |
| 02:30 | PMI Manufacturing | Apr | |
| 02:30 | Tertiary Industry Index | Apr | |
| 02:30 | PMI Composite | Apr | |
| 08:00 | Public Sector Net Borrowing | Mar |
