| gen. |
money market (The wholesale market for short-term loans and debt instruments. In the UK, money brokers arrange for loans between the banks, the government, the discount houses, and the accepting houses, with the Bank of England acting as lender of last resort. The main items of exchange are bills of exchange, Treasury bills, and trade bills. The market has traditionally taken place in and around Lombard Street in the City of London. Private investors, through their banks, can place deposits in the money market at a higher rate of interest than bank deposit accounts. These are considered to be safe investments. See also interbank market The foreign exchange market and the bullion market in addition to the short-term loan market. OB&M Alexander Demidov) |
