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Commercial banks are financial intermediaries, which distinguish themselves from other financial intermediaries such as investment funds, insurance companies and so on in that they are supported and controlled by the central bank.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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predetermined money supply, coherent market system, open discount window, increasing liquidity preference, equilibrium constellation, market constellation, established monetary economy, income formation, passive monetary policy, banking position, modern monetary theory, scarcity function, currency school, monetary interest rate, goods spheres, monetary function, import surplus, market logic, monetary sphere, monetary constitution, relative premium, functional conditions, cohesion function, liquidity preference theory, discretionary monetary policy
Key Phrases - Capitalized Phrases (CAPs):
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Banking Department, Say's Law, Peel's Bank Act, Bank of England, Second World, First World, Latin American, International Monetary Fund, Federal Republic of Germany, Lombard Street, Great Britain, Lord Overstone, Critique of Political, Federal Reserve, West German
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