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by type111
1306 days ago
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The only ledger that two different banks share is the ledger of reserves at the central bank. The bank deposit that is created through the mortgage process has no means of escaping the buyer's bank and into the seller's account -- it's an artifact of the contract between the buyer and their bank. The seller's account grows only in response to a bank-to-bank transfer of reserves or a huge cash withdrawal and deposit (which are essentially similar.) |
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