: a medium of exchange consisting chiefly of checks and drafts
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Unlike bank money, they aren’t propped up by a fragile web of trust, insurance schemes, and emergency backstops.—Jon Helgi Egilsson, Forbes.com, 29 May 2025 Everyone would be able to make payments using primary central-bank money, with no fees, no counterparty risk and instant clearing and settlement of transactions.—Ruadhan O, Forbes, 8 Mar. 2023 Buying back debt extinguishes the interest payments the bank owes bondholders and saves the bank money by buying back the debt at a discount.—Margot Patrick, WSJ, 7 Oct. 2022 And with shadow bank money still outside traditional regulatory control, the Fed has been on alert to backstop its issuers.—Lev Menand, Time, 4 May 2022
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