Bemerkungen zum Geldmarkigeschehen seit 1975

Abstract

The money market years 1975 - 1979 were years between two high-interest periods. In those years, a number of innovations were developed, which relate to and, if occasion arises, influence money market events. In particular, it was the Bundesbank which triggered such new developments. An important aspect is that since the last high-interest period more money market regulation by the Bundesbank has been registered than previously. On the other hand, the currently valid regulations permit certain money transactions to ameliorate the difficulties involved in adhering to the basic norms (Sect. 10 and 11, Banking Act). The freezing of all Iranian government credit balances with American banks all over the world gives food for thought on the further limitation of political money market risks. The article concludes with remarks which signify that the volume of socalled marginal transactions of the money market has evidently expanded greatly in the recent past. In particular, interbank dealings in bills of exchange have received new impetus. The fact that transactions at usance among banks and non-bankers are becoming ever more widespread is confirmed by practical experience.