The customer 's checking account balance has no dollar bills in it , as a demand deposit account is simply a liability owed by the bank to its customer .
From an economic standpoint , the bank has essentially created economic money ( although not legal tender ) .
The customer 's checking account balance has no dollar bills in it , as a demand deposit account is simply a liability owed by the bank to bank 's customer .
From an economic standpoint , the bank has essentially created economic money ( although not legal tender ) .