near money

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Related to near money: Dear money

Near money

Assets that are easily convertible into cash, such as money market accounts and bank deposits.

Near Money

A highly liquid asset that may easily be converted to cash. Examples include savings accounts, bonds (especially near their maturities), and money markets. Central banks and statisticians sometimes, but not always, use near money when computing the money supply. See also: M2.

near money

Assets that can be converted quickly and easily into cash with virtually no loss in value. Examples of near money are savings account balances and Treasury bills.

near money

any easily saleable (liquid) ASSET that performs the function of MONEY as a STORE OF VALUE but not that of a universally acceptable MEDIUM OF EXCHANGE. CURRENCY (notes and coins) serves as a store of value and, being the most liquid of all assets, is universally accepted as a means of PAYMENT. However, building society deposits, National Savings deposits and Treasury bills are, respectively, less and less readily acceptable in their present form for making payments, and thus function as ‘near money’. See MONEY-SUPPLY DEFINITIONS.
References in periodicals archive ?
To visit his great-uncle Mose Wright, a sharecropper, and his cousins living in the Mississippi Delta, near Money, Miss.
Clearly, central banks regard near money (interest-bearing) assets as substitutes for cash assets and include them in broad monetary aggregates.
Near money are assets readily converted into cash and zero tolerance makes its first appearance, along with zorbing (a sport involving rolling down hills in a large transparent ball).
Analysis, by independent research firm Moebs $ervices of the money stock, interim deposit totals at numerous credit unions, and near money, i.