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BF:Unit 1 Vocabulary

Bank & Finance Vocabulary Practice

TermDefinition
Money Something generally accepted as a medium of exchange, a measure of value or a means of payments (Merriam-Webster Dictionary).
Currencies System of money in general use in a country.
Coin Type of money made with metal, stamped and issued by the authority of government.
Banknotes Promissory notes issued by a Federal Reserve Bank.
Government Bond Form of debt issued by a national government.
Treasury Notes (T-Notes) Type of government bond issued with shorter maturities than T-bonds.
Treasury Bills (T-Bills) Government bonds issued with terms of four, 13, 26 or 52 weeks.
Cash Form of legal tender which can be used to exchange goods, debt or services.
Debit Card Payment card which provides the cardholder electronic access to their bank account.
Credit Card Payment card issued by a bank to cardholders as a method of payment.
Personal Check Slip of paper which allows the user to make a payment from his or her bank account to a business or individual.
Electronic Funds Transfer Wire transfer of money from one bank account to another.
Money Supply Total amount of monetary assets available in a country’s economy at a specific time.
Money Demand Desired holding of financial assets in the form of money– cash and bank deposit.
Continentals Paper currency issued by the Continental Congress.
Gold Standard Standard mass of gold defines the value of a currency unit.
Treasury Bonds (T-Bonds) Type of treasuries which have the longest maturities of all government bonds.
Created by: 23counsil.easton