One-Day Certificate

DEFINITION of 'One-Day Certificate'

A type of temporary financing used by the U.S. Treasury. One-day certificates are interest bearing and are used when the Treasury must borrow from the Federal Reserve System. These certificates are a type of Special Certificate that is issued to the Federal Reserve Bank of New York.

BREAKING DOWN 'One-Day Certificate'

One-day certificates have not been issued since June of 1979. Legislation prohibits the Treasury from borrowing more than $5 billion directly from the Federal Reserve and requires the approval of at least five of the seven governors of the Federal Reserve Board.

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RELATED FAQS
  1. How do you get a hard copy of a stock certificate?

    Before online brokers and personally-directed accounts, holding a physical stock certificate was a necessity, as this was ... Read Answer >>
  2. Is this stock certificate worthless?

    I bought 50,000 shares of restricted common stock from a company in December 2015 and received a stock certificate. I then ... Read Answer >>
  3. How do I transfer all the stock of my company to my brother?

    I started a Shell corporation in 2014 with myself as the sole stockholder. There is no revenue to date... Read Answer >>
  4. What should I do with my suspended security?

    A stock in my brokerage account has been suspended from trading. Consequently it also has a 'frozen' relationship ... Read Answer >>
  5. Can I pass on the stock certificates to my son in my will?

    I was told I could get stock certificates from the company that I retired from. Will my son get the st... Read Answer >>
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    Regardless of whether a shareholder loses his or her stock certificate, that person still owns the shares. However, in order ... Read Answer >>
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