Heterodox
by George Dorgan
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Summary:
Money creation and sight deposits may have two points of view: 1. The central bank creates money - i.e. the SNB decides to increase sight deposits when it does currency interventions 2. Commercial banks create money - inflows in CHF on Swiss bank accounts make those banks increase their "sight deposits at the SNB. If inflows in CHF are higher than outflows then CHF must rise, unless the central bank does currency interventions. We will present both alternatives.
Topics:
George Dorgan considers the following as important: capital flight, current account, ECB, ELA, Featured SNB, FX reserves, M0, M1, M2, Monetary Base, monetary data, Monetary Policy, money printing, Money Supply, newsletter, Reserves, sight deposits, SNB, Sterilization, Swiss National Bank
This could be interesting, too:
Money creation and sight deposits may have two points of view:
1. The central bank creates money - i.e. the SNB decides to increase sight deposits when it does currency interventions
2. Commercial banks create money - inflows in CHF on Swiss bank accounts make those banks increase their "sight deposits at the SNB. If inflows in CHF are higher than outflows then CHF must rise, unless the central bank does currency interventions.
We will present both alternatives.Money creation and sight deposits may have two points of view: 1. The central bank creates money - i.e. the SNB decides to increase sight deposits when it does currency interventions 2. Commercial banks create money - inflows in CHF on Swiss bank accounts make those banks increase their "sight deposits at the SNB. If inflows in CHF are higher than outflows then CHF must rise, unless the central bank does currency interventions. We will present both alternatives.
Topics:
George Dorgan considers the following as important: capital flight, current account, ECB, ELA, Featured SNB, FX reserves, M0, M1, M2, Monetary Base, monetary data, Monetary Policy, money printing, Money Supply, newsletter, Reserves, sight deposits, SNB, Sterilization, Swiss National Bank
This could be interesting, too:
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