commercial money explain
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Commercial bank money or demand deposits are claims against financial institutions that can be used for the purchase of goods and services. ... That multiple (called the money multiplier) is determined by the reserve requirement or other financial ratio requirements imposed by financial regulators.
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The term commercial bank money describes the portion of a currency which is made of book money – debt generated by commercial banks. ... Commercial bank money is not legal tender, but is widely used to represent base money in transactions. Commercial bank money currently makes up a large part of most currencies.
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