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SOURCE ROOM

What are the means of settlement?

Bank of Japan (Tell me! Nichigin)

Claims Supported by This Source

  1. The means of settlement is money. Money is "something that everyone is willing to accept in exchange for goods and services."
  2. Money in a broad sense has three forms: cash currency (banknotes and coins), demand deposits at financial institutions, and current accounts at the Bank of Japan.
  3. Characteristics of cash currency: legal tender status, finality of payment, and anonymity.
  4. Demand deposits and current accounts at the Bank of Japan also have finality of payment. Current accounts at the Bank of Japan have extremely high creditworthiness, liquidity, and neutrality.

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