3.1   Meanings :

1.  Reservations –   the action of reserving something .

2.  Possessor  –  a person who owns something .

3.  Acknowledging  –  to admit to be real .

4.  Bodied money  –  token money .

5.  Liability    – a person or thing whose presence .

6.  Coincidence    –  a remarkable concurrence of events .

7.  Meditate   –  in a silence .

8.  Lack of collateral   –   property which is used as a guarantee  .

9.  Selective credit control   –   to restrict bank finance against sensitive commodities .

10.  Token coins  –  a coin having an intrinsic value less than its face value .

11.  Collateral  –  secondary .

12.  Contrast  –  close association .

13.  Affordable credit  –  cheap credit .

14.  Periodically  –  at regularly occurring intervals.