rheaallison1 rheaallison1

18-05-2024
Business

Answered

What types of money do banks typically hold?
The money held by banks today is in electronic form only.
The money held by banks is in the form of paper currency only.
The money in banks in the United States is always in US currency.
The money in banks includes currency, debit and credit cards, and gold ingots.

Answer :

GinnyAnswer GinnyAnswer

18-05-2024

Final answer:

Banks hold currency in circulation and checkable deposits as part of the M1 money supply.

Explanation:

Banks typically hold a variety of types of money, including currency in circulation and checkable deposits (demand deposits) from individuals and businesses. These assets, constituting the M1 money supply, are the most liquid forms of money and are essential for day-to-day transactions in the economy.

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