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Full-reserve banking

Separating money creation from bank lending

Patrizio Lainà

In this dissertation, I study full-reserve banking (FRB). Currently, most money is created by private banks in the form of bank deposits simultaneously with the making of loans. FRB means that the prerogative to create money is shifted from private banks to public responsibility, or money is fixed to a commodity. In other words, under FRB the money supply consists of government money (i.e. cash, central bank reserves and government securities) or commodity money (e.g. gold or silver). FRB would prohibit private money creation, at least in the sense that the government would not guarantee repayment or par clearance of private monies or money-like assets. This would mean that there would be no more deposit insurance and the central bank would not act as the lender of last resort for private actors.


25 €

  • Julkaisija Valtiotieteellinen tiedekunta (Helsingin yliopisto)
    Julkaisuvuosi 2018
    Sivumäärä 288
    Kieli Englanti
    Ulkoasu B5,pehmeäkantinen
    ISBN 9789515133335
    ISSN 2343-273X