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money market
economics
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Articles from Britannica Encyclopedias for elementary and high school students.
Also known as: discount market
- Related Topics:
- bill broker discount house
money market, a set of institutions, conventions, and practices, the aim of which is to facilitate the lending and borrowing of money on a short-term basis. The money market is, therefore, different from the capital market, which is concerned with medium- and long-term credit. The definition of money for money market purposes is not confined to bank notes but includes a range of assets that can be turned into cash at short notice, such as short-term government securities, bills of exchange, and bankers’ acceptances. (Read Milton Friedman’s Britannica entry on money.) Every country with a monetary system of its own ...(100 of 5644 words)