How to bank deposits leave the country? I get the physical currency, but the deposits I am lost on. I feel like at best they are transferred from a US bank, to a domestic (US) office of a foreign bank. I guess that can be considered "offshore", but not really (e.g., if it goes from JPM Chase to Barlcays US branch).
How to bank deposits leave the country? I get the physical currency, but the deposits I am lost on. I feel like at best they are transferred from a US bank, to a domestic (US) office of a foreign bank. I guess that can be considered "offshore", but not really (e.g., if it goes from JPM Chase to Barlcays US branch).
How to bank deposits leave the country? I get the physical currency, but the deposits I am lost on. I feel like at best they are transferred from a US bank, to a domestic (US) office of a foreign bank. I guess that can be considered "offshore", but not really (e.g., if it goes from JPM Chase to Barlcays US branch).
https://files.stlouisfed.org/files/htdocs/publications/review/71/07/Principles_Jul1971.pdf
page 23 shows what i mean.
Got it. So, like most other things with banking, it's simply a bookkeeping exercise.
Could you view the Rest of World claims on deposits then as Eurodollars?
https://fred.stlouisfed.org/series/ROWCHDQ027S
Seems it would fit the definition provided by Friedman.
a market exists for each currency. EuroEuros, EuroYens, etc.