‖ ratissage Econ.
(ratisaʒ)
[Fr., lit. ‘scraping, raking in of stakes’.]
A device whereby the Bank of France calls in a portion of its country's commercial banks' foreign currency balances, and so temporarily improves its reserves of foreign exchange.
| 1957 Economist 28 Dec. 1144/1 The technique of ratissage dates from March of this year even though it is only now that it has been broadened to include dollars as well as EPU currencies. 1959 Ibid. 10 Jan. 155/2 A substantial part of the EPU deficit is ascribed to further ratissage by the Bank of France. 1959 Times 7 Apr. 17/1 The French recovery has now gone far enough for the French authorities to hope that their so-called ‘ratissage’ operations may be liquidated this month. |