Chartered banks create money in the form of chequable deposits when they make loans.

Name: Chartered banks create money in the form of chequable deposits when they make loans.
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When chartered banks make loans, they deposit the loaned amount into the borrower's account. This creates new chequable deposits, thereby increasing the money supply. This process is known as money creation or credit creation.

Chartered Banks Create Money in the Form of Chequable Deposits