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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for high interest rates.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"In war, there is no second prize for the runner-up." -- Omar Bradley, US Army general
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UNCTAD
United Nations Conference on Trade and Development
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