1  2  The interbank market for uncollateralised lending, the CP market, and the FX swap market. BIS Review 35/2010  Speculation against the krone At the peak of the crisis, many market rumours were circulating, claiming that Danmarks Nationalbank was in difficulties.
In the current system, central banks as well as commercial banks issue fiat money with the same unit of account, as illustrated in the slide. The central bank provides cash to the public and central bank reserves for settlement of interbank transactions between commercial banks. Commercial banks in turn issue bank deposits to private citizens.