credit extended for a period of less than one business day. It may be extended by central banks to even out mismatches in payment settlements and can take the form of (i) a collateralised overdraft; or (ii) a lending operation against a pledge or in a repurchase agreement
Intra-day credits by the European Central Bank or the national banks to the public sector shall not be considered as a credit facility within the meaning of Article 104 of the Treaty, provided that they remain limited to the day and that no extension is possible.
