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| Refers to cash (currency notes and coin) in official currency backed by the relevant government. Such money may be [[legal tender]].
| | Overnight reverse repo. |
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| More generally, money is anything accepted for the settlement of debts in an economy or jurisdiction.
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| | '''Note:''' The US Federal Reserve generally abbreviates to 'ON RRP', with the space, when referring to activity in its overnight fixed-rate reverse repurchase agreement programme, introduced since 2013 as a tool for reducing deposits by monetary institutions (mostly banks) with the central bank. The Fed has opened its programme to non-banks including money funds. |
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| To the economist, money is whatever is used for four roles:
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| # A medium of exchange.
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| # A unit of account.
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| # A store of value.
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| # A standard for deferred payment.
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| | ==See also== |
| | * [[Federal Reserve]] |
| | * [[Reverse repo]] |
| | * [[Reverse repurchase agreement]] |
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| Money, then, can be many things, but most often today is fiat (let it be) money, i.e. tokens provided by a government and accepted by them for payment of taxes, or abstract representations of it. The latter are mostly as electronic representations in the accounts of banks and other monetary financial institutions, including [[central bank]]s. Most money in developed countries consists of these records rather than of the tokens issued as fiat money.
| | [[Category:Liquidity_management]] |
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| In the past money has been commodity money, for example gold or silver or valuable spices or shells, the value of which is in the of the valuable material or object rather than a nominal value ascribed to (a portion of) it. A government can issue tokens (e.g. notes or coins) exchangeable for a fixed quantity of such a commodity. Such tokens are known as representative money.
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| == See also ==
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| * [[Central bank money]]
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| * [[Fiat currency]]
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| * [[Finance ]]
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| * [[Financial stability]]
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| * [[Legal tender]]
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| * [[Monetary]]
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| * [[Monetisation]]
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| * [[Gold standard]]
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| === Other links ===
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| [http://bankunderground.co.uk/2015/08/21/monies-joining-economic-and-legal-perspectives/ Bank Underground blog: Monies - Joining economic and legal perspectives]
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Latest revision as of 10:48, 27 February 2020
Overnight reverse repo.
Note: The US Federal Reserve generally abbreviates to 'ON RRP', with the space, when referring to activity in its overnight fixed-rate reverse repurchase agreement programme, introduced since 2013 as a tool for reducing deposits by monetary institutions (mostly banks) with the central bank. The Fed has opened its programme to non-banks including money funds.
See also
