A part of private bank deposits, such as ordinary deposits, is also called "deposit money," and they function as currency based on the assurance that such deposits can be exchanged for banknotes issued by the Bank at any time.
Before proceeding further, let me briefly define terms such as "cash" and "money," since they have been used so far without a strict definition (Chart 4). "Cash," which consists of Bank of Japan notes and coins in circulation, amounts to around 80 trillion yen.