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Preston University
CREATION OF DEPOSITS: The goldsmiths created new deposits by lending some of the gold & silver coin deposited with them. The customers who borrowed the money did so in order to carry out transactions & thus they passed it on to others
Preston University
RESTRICTIONS ON PRIVATE-BANKS: In order to make sure that the Bank of England predominated as the major bank in England, various Acts of Parliament were passed which restricted the number of partners that a private bank could have, and the restriction on issuing private notes. But the use of cheques and bills of exchange were being used and thus deposit banking was facilitated.
Preston University Kamran Shabbir BBA-4
CASH & BANK DEPOSITS: Cash means the notes and coin, which in UK are Bank of England notes and coins, while in Pakistan are the State Bank of Pakistan notes and coins; these are defined by Law as Legal Tender Cheques are a means of transferring the ownership of money. The form of money which they transfer is in fact bank deposits, that account for the major part of our money supply.
Preston University Kamran Shabbir BBA-4
NEAR-MONEY ASSETS: A near-money asset has to be converted into money i.e. notes and coin or a bank deposit, before it can be used as money For e.g. money order, postal order, national saving certificates, treasury bills, building society deposits or shares, shares in public companies, insurance policies etc
Preston University Kamran Shabbir BBA-4
Preston University
M1
M2
Preston University
Preston University
The Total of notes and coin in circulation with the public, plus the banks till money, plus their operational balances with the Bank of England.
Preston University
Notes and coin plus UK private-sector non-interest bearing sterling sight deposits in UK banks
Preston University
Preston University
Notes and coin plus UK private-sector non-interest bearing sterling sight deposits in UK banks plus interest bearing deposits held by the private sector in UK banks and building societies for transactions purposes.
Preston University
Preston University
This comprises M1 plus private-sector sterling time bank deposits plus private-sector holdings of sterling bank certificates of deposits
Preston University
Preston University
This comprises M1 plus private-sector sterling time bank deposits with an original maturity of up to two years plus private-sector holdings of sterling bank certificates of deposit plus private sector holdings of money market instruments and certificates of bank deposits
Preston University
This is equal to PSL1 plus private-sector holdings of building society deposits and national saving instruments and less building society holdings of money market instruments and bank deposits etc
Preston University