1013 - Legal Tender
Last Update: 26.06.2025
Maturity  | |
|---|---|
 Basic |  |
 Scope |  |
 Flow | |
 Cycle | |
Center  Full Reserve Banking |
Periphery  Fractional Reserve Banking |
Legal tender refers to the currency that is recognized by law as a valid means of payment. In full reserve banking, all deposits are backed by reserves, while in fractional reserve banking, only a fraction of deposits are backed by reserves.
WARNING: This entry is marked as experimental/in development.