Define: Overnight Bank Funding Rate
What does "Overnight Bank Funding Rate" mean? The meaning differs based on the contract. We found 10 definitions across 11 companies in SEC filings.
Definition 1 (CUMMINS INC, seen in 2 filings)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: CUMMINS INC 8-K
Definition 2 (CUMMINS INC, seen in 2 filings)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB's Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: CUMMINS INC 8-K
Definition 3 (AXON ENTERPRISE, INC., seen in 2 filings)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: AXON ENTERPRISE, INC. 10-K
Definition 4 (DOVER Corp, seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in US Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: DOVER Corp 10-Q
Definition 5 (CARNIVAL CORP, seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the Federal Reserve Bank of New York's Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: CARNIVAL CORP 10-K
Definition 6 (CARNIVAL CORP, seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: CARNIVAL CORP 10-Q
Definition 7 (ALLSTATE CORP, seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in Dollars by U.S.- managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB's Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
Source: ALLSTATE CORP 10-K
Definition 8 (Tesla, Inc., seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight borrowings by U.S. managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).
Source: Tesla, Inc. 10-K
Definition 9 (AMAZON COM INC, seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the overnight bank funding rate (or any successor rate).
Source: AMAZON COM INC 8-K
Definition 10 (BROADRIDGE FINANCIAL SOLUTIONS, INC., seen in 1 filing)
Overnight Bank Funding Rate means for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings eurodollar transactions denominated in US Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the NYFRB s Website from time to time, and published on the next succeeding business day as an Overnight Bank Funding Rate Business Day by the NYFRB as an overnight bank funding rate provided that such rate shall in no event be less than 0.00%.
Source: BROADRIDGE FINANCIAL SOLUTIONS, INC. 10-K
Data extracted from 15 SEC EDGAR filings across 11 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.