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you are here: > Glossary
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| Master Account | ||
| A Master Account is the primary universal account for a particular Member or non-member and represents their registered number or temporary agreement number if not a member. An Master Account is one of five (5) main types of Accounts for the Globe Union Reserve Bank. | ||
| Money | ||
| Money is anything that is generally accepted in exchange as payment for goods and services. While the key function of money is to act as a medium of exchange, when money is formalized to be recognized as a store of value, unit of account, and method of payment, is may be regarded as Currency. |
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| Moral Hazard | ||
| A risk and feature of assistance that arises when the provision of capital to assist a member or non-member causes the underlying problems of weak economic performance, corruption and mismanagement to worsen, rather than improve. Essentially, Moral Hazard exists when financial and industry entities are provided an underwriting or dramatic elimination of debts effectively "guaranteeing" poor decisions will be forgiven without any effective legal reform. Under such circumstances, the assistance results in promoting an increase in poor and corrupt behaviour, rather than lessening it. As a result, the Globe Union Reserve Bank may not provide long term capital arrangements in place without the associated legal and regulatory reforms required to eliminate moral hazard. | ||
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