Current Account

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Current Account

A detailed financial statement representing the debit and credit relationship between two parties that has not been finally settled or paid because of the continuous, ongoing dealings of the parties.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
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In March 2001, the Bank of Japan (BOJ) announced it was easing monetary policy by shifting its operating target from the key overnight bank lending rate -- already near zero -- to current-account balances held by financial institutions at the central bank.
The current-account balance is the difference between a country's income from foreign sources and foreign obligations payable, excluding net capital investment.
Banks also said that some interest has to be allowed on current-account balances.

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