deposit currency

English - English

Definition of deposit currency in English English dictionary

The demand deposit liabilities of banks The total amount held in bank accounts subject to immediate withdrawal or transfer to another account upon presentation of a check duly signed by the owner of such a bank account Sometimes referred to as checkbook money Like banknotes, deposit currency is a money-substitute (q v ) and "Money in the broader sense" (q v ) Only the monetary reserves held against their withdrawal are "money in the narrower sense" (q v ) The amount of deposit currency in excess of the reserves held against withdrawal is "fiduciary media" (q v ) HA 432-48,571; M 52-59, 268-75, 278-80, 319-21, 482-83

Also referred to as deposit money, bank money or deposit money Customer credit balances on giro accounts or current accounts (demand deposits) with a bank, with access at any time without restriction of any kind Deposit currency offers credit institutions the opportunity to earn money by granting credit The counterpart of deposit currency is cash in the form of coins or banknotes, which can be physically held in the hand

Related Terms

deposit of Israeli currency

act of depositing Israeli currency into an bank account

foreign currency deposit

deposit made in a currency from another country

Hyphenation

de·po·sit cur·ren·cy

Turkish pronunciation

dıpäzît kırınsi

Pronunciation

/dəˈpäzət ˈkərənsē/ /dəˈpɑːzɪt ˈkɜrənsiː/