In business transactions, a service rendered by the debtor in return for which an equivalent counter-performance is received directly by the debtor’s assets. Performance and consideration must be linked by contractual agreement. – In the case of a central bank, also used for the sum of gold and foreign currency in its possession. – See gold backing, reverse repurchase agreement.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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