wilmott.com

Apparenly these deposits mature on the same day, i.e time to maturity is 0 days. however they pay interest as usual -- and this is calculated as if its a one day instrument.Could someone please point me to where i can read some more background about intraday depos, how they work, and how they are 'valued', etc. typical terms and conditions sheet or any papers written about this would be a great starting point. my initial though was ti accrue interest in hours, but not sure this is what happens in practice.Grateful for any pointers.RegardsKen

I've seen some FX desks accrue interest by the second, which seems to make sense.

many thanks exotiq ... yes, would make sense to accrue interest more granularly in this case. i would like to know how common this is -- some written material on this would be useful for me at this point. anyone?? any relationships with 'intraday repo'?enjoyken