: a medium of exchange consisting chiefly of checks and drafts
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This book is a deeply scholarly, policy-relevant history of money, from the advent of coinage, paper currency, and bank money in ancient, medieval, and early modern times to the stablecoins and central bank digital currencies of today and tomorrow.—Foreign Affairs, 16 Dec. 2025 Unlike bank money, they aren’t propped up by a fragile web of trust, insurance schemes, and emergency backstops.—Jon Helgi Egilsson, Forbes.com, 29 May 2025 Everyone would be able to make payments using primary central-bank money, with no fees, no counterparty risk and instant clearing and settlement of transactions.—Ruadhan O, Forbes, 8 Mar. 2023 Buying back debt extinguishes the interest payments the bank owes bondholders and saves the bank money by buying back the debt at a discount.—Margot Patrick, WSJ, 7 Oct. 2022 And with shadow bank money still outside traditional regulatory control, the Fed has been on alert to backstop its issuers.—Lev Menand, Time, 4 May 2022