Domestic and International Money Markets



Money market instruments are defined as securities that when issued have a year or less to maturity, and the market that trades in such instruments is known as the money market. Examples of money market instruments are Treasury bills, commercial paper, bankers’ acceptances, certificates of deposit and Eurocurrency deposits. The money market is important because many of these instruments are held by banks as part of their eligible reserves, that is, they may be used (are eligible) as collateral if a bank wishes to raise funds from the central bank.


Central Bank Credit Rating Money Market Treasury Bill Interbank Market 
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Further reading

  1. Buckle, M. and Thompson, J. (2004) The UK Financial System: Theory and Practice 3rd edn, Manchester University Press.Google Scholar
  2. Fabozzi, F., Mann, S. and Choudhury, M. (2002) The Global Money Markets Wiley.Google Scholar
  3. Miller, R. and Van Hoose, D. (2003) Money Banking and Financial Markets 2nd edn, South Western College Publications.Google Scholar

Copyright information

© Keith Pilbeam 2005

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