OFFICIAL INTEREST RATE Definition

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OFFICIAL INTEREST RATE, normally, is the rate of interest charged by the government or traders within the money market, e.g., federal funds rate and bank repurchase agreement (repo rate).

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ORDINARY ASSET is a non-capital asset used for business purposes. See CAPITAL ASSET.

OVERAGE is that amount, as in money or goods, that is actually on hand and exceeds the desired or listed amount in records or books. Also known as SURPLUS.

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