zahlungsmittelnaher

zahlungsmittelnaher is an economic term used to describe assets that are closely associated with money as a means of payment. In practice it refers to assets that can be converted into cash quickly and with little risk of loss, and that are widely accepted in transactions. The concept is often equated with the English term near money or geldnahe Vermögenswerte.

Typical examples or components include demand deposits (checking and current accounts), other highly liquid time deposits with very short maturities, money market instruments, and certain short‑term securities such as government treasury bills. The exact composition can vary by statistical agency and by how broadly a central bank defines monetary aggregates. In some definitions, money market funds and other near‑cash instruments may be included, while more illiquid assets like longer‑term bonds or real estate are excluded.

Function and relevance: Zahlungmittelnahe assets lie between cash equals M0 and broader assets in monetary aggregates such as M2 or M3. They provide liquidity in the financial system and influence the transmission of monetary policy, since changes in their quantity or velocity affect spending and price formation. Central banks monitor their size and composition to assess liquidity conditions and the stance of policy.

Terminology: The concept is closely related to but not always identical with money market instruments or geldnahe Vermögenswerte. Different institutions may use slightly different definitions, but the core idea is assets that are near money in terms of liquidity and usability for payments. See also money, monetary aggregates, liquidity.