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SOURCE ROOM

How is money created?

Bank of England（explainer）

Claims Supported by This Source

  1. Money in the UK: 3% banknotes and coins / 18% reserves / 79% bank deposits.
  2. Regulation (capital) constrains money creation by banks.
  3. Payments to other banks are made using central bank electronic money (reserves).

How to read the verification levels. "Read Through" means the source was read in its entirety. "Bibliography & Abstract Read" means the bibliographic information and abstract were confirmed. "Via Course Material" means the source was referenced through the textbook or course text. The "Text Hash" is the SHA-256 of the main text from the publisher's page, excluding tags and whitespace, used to detect if the source has been modified.