In the context of a FI liquidity can have different meanings. It can describe
Ω Funds (central bank money held with the central bank directly or with other
institutions)
Ω The ability of the FI itself to attract such funds
Ω The status of the central bank account of the FI in a certain moment in the
payment process (i.e. to have enough funds).
We will concentrate on the latter and refine the description by introducing the
concept of solvency.
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