imported>Doug Williamson |
imported>Doug Williamson |
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| Historically, and narrowly, money referred to cash (notes and coins) in official currency backed by the relevant government.
| | The most recently issued of a series of similar securities from an issuer. |
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| Such money may be legal tender.
| | For example, the most recently issued 10 year US treasury (government) bond is on the run. Earlier issues are 'off the run'. |
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| | In general, there is greater liquidity in the on the run issue. This can be reflected in higher price, lower yield. The higher liquidity occurs as the issue finds its way to longer-term holders' portfolios from primary dealers and more speculative buyers, prime brokers. |
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| More generally, money is anything accepted for the settlement of debts in an economy or jurisdiction.
| | The term can also be applied to derivatives related to securities. |
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| To the economist, money is whatever is used for four roles:
| | ==See also== |
| # Medium of exchange.
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| # Unit of account.
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| # Store of value.
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| # Standard for deferred payment.
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| | * [[Off the run]] |
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| ''Fiat money.''
| | [[Category:Corporate_financial_management]] |
| | | [[Category:Investment]] |
| 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:Long_term_funding]] |
| | | [[Category:Treasury_operations]] |
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| ''Commodity money.''
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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 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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| * [[Barter]]
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| * [[Broad money]]
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| * [[Cash]]
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| * [[Central bank money]]
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| * [[Commodity]]
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| * [[Cryptocurrency]]
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| * [[Currency]]
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| * [[e-money]]
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| * [[Fiat currency]]
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| * [[Fiat money]]
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| * [[Finance ]]
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| * [[Financial stability]]
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| * [[Fungible]]
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| * [[Gold standard]]
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| * [[Hard money]]
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| * [[Hot money]]
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| * [[In the money]]
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| * [[Legal tender]]
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| * [[Materialistic]]
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| * [[Monetary]]
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| * [[Monetisation]]
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| * [[Money laundering]]
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| * [[Money market]]
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| * [[Money supply]]
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| * [[Money terms]]
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| * [[Narrow money]]
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| * [[Overnight money]]
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| * [[Quantity theory of money]]
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| * [[Time value of money]]
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| * [[Token]]
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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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| [[Category:Accounting,_tax_and_regulation]] | |
| [[Category:The_business_context]] | |
| [[Category:Financial_products_and_markets]] | | [[Category:Financial_products_and_markets]] |
The most recently issued of a series of similar securities from an issuer.
For example, the most recently issued 10 year US treasury (government) bond is on the run. Earlier issues are 'off the run'.
In general, there is greater liquidity in the on the run issue. This can be reflected in higher price, lower yield. The higher liquidity occurs as the issue finds its way to longer-term holders' portfolios from primary dealers and more speculative buyers, prime brokers.
The term can also be applied to derivatives related to securities.
See also
