Near Money
Barron's Banking Dictionary:
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Near Money
Liquid assets, such as time deposits, Treasury bills, and other short-term government securities, that are easily converted to cash on short notice. Near money is, however, excluded from the narrowest definition of the Money Supply because, unlike checking accounts and cash, it does not function as a medium of exchange in everyday purchases of goods and services.
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Barron's Banking Dictionary
Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.
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