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Threadneedle is a multi-agent simulation framework, based on a full doubleentry book keeping implementation of the banking system's fundamentaltransactions. It is designed to serve as an experimental test bed for economicsimulations that can explore the banking system's influence on themacro-economy under varying assumptions for its regulatory framework, mix offinancial instruments, and activities of borrowers and lenders. Support isprovided for Basel Capital and central bank reserve regulatory frameworks,inter-bank lending and correct handling of loan defaults within the bankaccounting framework.  In this paper we provide an overview of the design of Threadneedle, and therational for the double entry book keeping approach used in its implementation.We then provide evidence from a series of experiments using the simulation thatthe macro-economic behaviour of the banking system is in some cases sensitiveto double entry book keeping ledger definitions, and in particular that lossprovisions can be systemically affecting. We also show that credit and moneyexpansion in Basel regulated systems is now dominated by the Basel capitalrequirements, rather than the older central bank reserve requirements. Thisimplies that bank profitability is now the main factor in providing new capitalto support lending, meaning that lowering interest rates can act to restrictloan supply, rather than increasing borrowing as currently believed. We alsoshow that long term liquidity flows due to interest repayment act in favour ofthe bank making the loan, and do not provide any long term throttling effect onloan expansion and money expansion as has been claimed by Keynes and others.

Threadneedle: An Experimental Tool for the Simulation and Analysis of Fractional Reserve Banking Systems