The overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market. In some countries (United States Cash loans easy repayment
Interbank lending market - Wikipedia, the free encyclopedia
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The interest rate at which a depository institution lends immediately available funds (balances within the central bank) to another depository institution overnight.
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A federal funds transaction, or fed funds transaction, is an unsecured loan of U.S. dollars to a depository institution (DIs) by another DI or other eligible entity.
The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution overnight. The federal funds rate Short term loans in cash flow
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