The Overnight Rate Refers to

The overnight rate refers to

A) the interest rate that commercial banks charge to their least risky business borrowers.
B) the market interest rate that financial institutions charge each other for overnight loans.
C) a term used to describe the range of possible overnight interest rates.
D) the interest rate that the Bank of Canada charges commercial banks for overnight loans.
E) accounts held at the Bank of Canada by financial institutions for the purpose of settling their net payment obligations to one another.