Money base

Money base

Composed of currency and coins outside the banking system plus liabilities to the deposit money banks.

Narrow Money

A measure of the money supply used by the various central banks that includes only currency in circulation and very near money instruments. In the Federal Reserve System, narrow money includes all physical currency and deposits in checking accounts as well as Negotiable Orders Withdrawal accounts. It does not include savings accounts, certificates of deposit, or money market accounts. This is called narrow money because it applies the most restrictive definition of money. It is also called the money base. See also: M1, M0.
References in periodicals archive ?
In Oct 2013 the money base of Armenia dropped by 0.
In the structure of the money base the cash funds outside the CBA totaled 408.
The share of AMD required reserves in the total money base made up 26.
The policy instrument is the money base instead of the FFR.
However, many researchers suggest that the McCallum money base targeting rule has undesirable stabilization properties.
The author replaces the money base as the policy instrument with the FFR by appealing to empirical evidence that base velocity is a stable function of the FFR.
The policy instrument is the growth rate of the money base (ln [b.
It seems that the major disadvantage of this rule is that the instrument is the money base and not the FFR.
The modification is based on the empirical evidence that the relationship between base velocity and the FFR is stable, which would enable one to substitute changes in the money base by changes in the FFR and nominal GDP in equation (5).
First, the monetary policy instrument is the FFR and not the money base, which dropped out.
Either way, large parts of its voter and money base will be alienated.
Steve Ogden, manager of Hancocks, in Liverpool, said: "Vesty Business Park has provided a real value for money base for our Merseyside operation.