In a 100-percent-reserve banking system, if people decided to decrease the amount of currency they held by increasing the amount they held in checkable deposits, then M1 would not change.
A network or collection of institutions that offer financial services makes up a banking system. Commercial, national, and investment banks as well as credit unions might be a part of one of the main categories of banking systems.
Public sector banks - A bank that is primarily owned by the government or the nation's central bank. Private sector banks are those whose primary shareholders are private businesses, individuals, or groups of people.
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