current-account
Meaning
A bank account from which money can be taken out without giving notice, used for everyday expenses and payments.
The part of a country's balance of payments that records the value of exports and imports of goods and services, investment income, and transfers.
Structure
Usage
I need to check the balance in my current-account before writing the cheque.
The business opened a new current-account to manage its daily operational expenses.
The country's current-account deficit widened due to increased imports of consumer goods.
Etymology
The term 'current-account' is a compound noun formed in the 19th century from two established English words. 'Current', derived from the Latin verb 'currere' (to run), metaphorically conveys the concept of continuous flow or circulation, akin to a current of water. 'Account', with roots in Latin 'computare' (to sum up), signifies a financial record. When combined, the term logically describes a bank account designed for the 'running' or ongoing flow of daily funds, as opposed to a deposit account meant for saving. This literal sense of a flowing record was later extended in international economics to denote the part of a nation's financial ledger that tracks the continuous flow of goods, services, and income across its borders.
Analysis
- current: From Latin 'currere' (to run). In this compound, it functions as an adjective meaning 'running' or 'in flow', describing the active, ongoing nature of the account. - account: From Old French 'acont', from Latin 'computare' (to calculate). In this compound, it functions as a noun meaning a record or statement of financial transactions.