The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Call Money

a form of short-term commercial credit that must be paid back by the borrower upon the first demand of the creditor.

Capitalist banks give such credit against promissory notes, commodities, and securities. The interest rates for call loans are lower than for term loans. This is advantageous for capitalist firms and enterprises that use call money to meet urgent short-term credit requirements. Call loans are bank assets that have high liquidity; they may be called in at any time. Under imperialism call money drawn against securities is frequently used for stock market speculation. Call money is not employed by socialist banks.

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References in periodicals archive

The minutes show the majority of board members considered a return to the zero-interest-rate policy of guiding the overnight call money rate to around zero as they agreed the economy is in a trend of gradual recovery.

BOJ votes 8-1 to cut official discount rate at Feb. 9 meeting

On July 7 the Bank of Japan guided the overnight call money rate to a historic low of 0.75 percent, below the official discount rate (ODR).

Treasury and Federal Reserve foreign exchange operations

At a two-day policy meeting, BOJ's seven-member policy board has decided unanimously to keep its target rate for unsecured overnight call money for the twelfth straight month.

Japan holds key rate steady

The central bank's eight-member Policy Board voted unanimously to keep the target rate for unsecured overnight call money on hold.

Kyodo economic news summary -3-

It is the second month in a row for the IBJ to cut the rate, which comes amid a decline in long-term rates following the Bank of Japan's decision to trim its target rate for unsecured overnight call money last week to around 0.15% from 0.25%.

IBJ to cut long-term prime rate to record-low 1.90%

Asked to comment on the Bank of Japan's decision last week to guide the key unsecured overnight call money rate to around 0.25% from 0.4-0.5%, Brown said he expects the easing of monetary policy to work in the economy's favor.

Britain's Brown urges Japan to help buoy Asian economy

The central bank's policy board has unanimously decided to keep the target rate for unsecured overnight call money on hold, it said.

Japan's central bank maintains key rate

The interest rate for unsecured overnight call money moved around 0.4 percent most of the day, below the bank's guiding target of around 0.5 percent.

2ND LD: BOJ drains 2.2 tril. yen from money market as rate cut expected

Hiranuma made the comments a day after the central bank pared its target rate for unsecured overnight call money to 0.15% from 0.25% and cut its largely symbolic official discount rate to 0.25% from 0.35%, and the benchmark Nikkei Stock Average closed at a 15-year low.

Hiranuma urges BOJ to take further monetary easing steps

In the interbank-borrowing market, the weighted average of overnight call money rates temporarily dropped to 0.20 percent, well below the BOJ's official target of 0.50 percent.

4TH LD: BOJ considering further credit easing, including rate cut

The central bank has injected fresh liquidity into the money market as overnight call money rates on borrowing by foreign banks remained in the mid-0.5 to mid-0.6 percent levels, above the BOJ's official target of around 0.5 percent.

Japan central bank continues to inject money