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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Near money (synonym: quasi-money) is a term used in economics to describe highly liquid assets that can easily be converted into cash.

Various sources provide the following examples of near money:

• Savings account
• Money funds
• Bank time deposits (Certificates of deposit)
• Government treasury securities (such as T-bills)
• Bonds near their redemption date
• Foreign currencies, especially widely traded ones such as the US dollar, euro or yen.
• list of countries by stocks of quasi money.

See also

• Money supply

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