Economic Definition of checkable deposit. Defined.
Offline Version: PDF
Term checkable deposit Definition: A checking account deposit maintained by a bank, savings and loan association, credit union, or mutual savings bank. These accounts, also termed transactions deposits, let customers transfer funds easily and quickly to another person, which makes them ideally suited for use as money. Checkable deposits are typically between 60 and 70 percent of the M1 money supply.
« check clearing | checkable deposits »
Permalink: https://glossary.econguru.com/economic-term/checkable+deposit