safety-fund system

noun

: a system under which banks are required by law to have or provide a fund (as a common fund provided for by a small tax) as a pledge for the redemption of their circulation

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Cite this Entry

“Safety-fund system.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/safety-fund%20system. Accessed 21 Dec. 2024.

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