money at call and short notice meaning

noun [U]

(Finance )

money which must be paid either as soon as the lender demands it, or within 14 days:

When banks are short of cash they will recall some of their money at call and short notice.

One of the assets that appears in the balance sheet of a bank. It includes funds lent to discount houses, money brokers, the stock exchange, bullion brokers, corporate customers, and increasingly to other banks. 'At call' money is repayable on demand whereas 'short notice' money implies that notice of repayment of up to 14 days will be given. After cash, money at call and short notice are the banks' most liquid assets. They are usually interest-earning secured loans but their importance lies in providing the banks with an opportunity to use their surplus funds and to adjust their cash and liquidity requirements.

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PC Version