ECONOMIC and MONETARY UNION (EMU) is the European Union's economic and monetary convergence among member countries, culminating in the introduction of a single currency, i.e. the Euro.
MONEY SUPPLY is the three categories of money supply (MI, M2, M3) as defined by the U.S. Federal Reserve Board.
M1 The sum of-currency held by the public, plus travelers' checks, plus demand deposits, plus other checkable deposits-i.e., negotiable order of withdrawal (NOW) accounts, automatic transfer service (ATS) accounts and credit union share drafts.
M2 MI plus savings accounts and small-denomination time deposits, plus shares in money market mutual funds (other than those restricted to institutional investors) and overnight Eurodollars and repurchase agreements.
M3 M2 plus large-denomination time deposits (over $100,000) at all depository institutions, large-denomination term repurchase agreements and shares in money market mutual funds restricted to institutional investors.
REPOSSESSION is the action of regaining possession, e.g. the seizure of collateral securing a loan that is in default.
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