It depends on the occasion where the word "deposit" appears. If you study the American economy, according to the hierarchy of American money market, deposits are usually regarded as quasi-money. The hierarchy of American money is: narrow money (M 1)= cash in circulation+cheque deposit (and transfer credit card deposit);

Broad money (M2)=M 1+ savings deposits (including current and fixed savings deposits);

There are M3=M2+ other short-term current assets (such as treasury bills, bank acceptance bills, commercial paper, etc.). ).

However, if we study China's economy, the situation is even more complicated. China's classification of currency grades is:

M0= cash in circulation;

Narrow money (M 1)=M0+ corporate demand deposits+government organizations and military deposits+rural deposits+credit card deposits held by individuals;

Broad money (M2)=M 1+ savings deposits of urban and rural residents+corporate time deposits+trust deposits+other deposits.

There are M3=M2+ financial bonds+commercial paper+large negotiable certificates of deposit, etc.

Where M2 minus M 1 is the quasi-currency, and M3 is set according to the continuous innovation of financial instruments. Generally speaking, deposits can be regarded as quasi-currency and classified as currency, but the scope needs to be treated differently in different countries and regions.