M3

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M3

Measure of the U.S. money stock that consists of M2, time deposits of $100,000 or more at all depository institutions, term repurchase agreements in amounts of $100,000 or more, certain term Eurodollars and balances in money market mutual funds restricted to institutional investor.

M3

A measure of money supply used by the various central banks. In the Federal Reserve System, M3 includes all physical currency and deposits in checking accounts, deposits in savings accounts, certificates of deposit, institutional money market accounts, repurchase agreements, and other large liquid assets that do not circulate very often. The European Central Bank defines M3 as the aggregation of currency in circulation, overnight deposits, all money market accounts, debt securities with maturities of up to two years, and repurchase agreements. M3 includes money that circulates very little or not at all and, therefore, the Federal Reserve no longer calculates M3 when determining the money supply. However, it is useful to some economists seeking to determine the entire amount of money in a given economy. See also: M0, M1, M2, M4

M3

A very broad measure of the domestic money supply that includes M2 items plus any large time deposits and money market fund balances held by institutions.
References in periodicals archive ?
In the United States, the velocity of M2 has deviated further from trend than M3C velocity in the Euro area.
Inflation is measured by the implicit GDP deflator, and money growth is measured by M3C.
Don Mills Collegiate Institute 15 The Donway East, North York Ontario, Canada M3C 1X6
Toronto, ON M3C 1J7; 416-441-1111 or 1-800-619-7301 ext.
200 Don Mills, ON CAN M3C 3P2 (416) 421-8377 (416) 696-1035 (fax) www.
For further information about PeopleFirst Interactive or Hutchinson Communications, contact our offices at 1090 Don Mills Road, Suite 403B, Toronto, ON M3C 3R6, Tel: 416/447-7799.
Regarding items for this column, contact: Presbyterian Record, 50 Wynford Drive, Toronto, Ontario M3C 1J7; phone: (416) 441-1111 or 1-800-619-7301; fax: (416) 441-2825; e-mail: obituaries@presbyterianrecord.
Regarding items for this column, contact: Presbyterian Record, 50 Wynford Drive, Toronto, Ontario M3C 1J7; phone: (416) 441-111 or 1-800-619-7301; fax: (416) 441-2825; e-mail: obituaries@presbyterianrecord.
Regarding items for this column, contact: Presbyterian Record, 50 Wynford Drive, Toronto, Ontario M3C 1J7; phone (416) 441-1111 or 1-800-619-7301; fax: (416) 441-2825; e-mail: obituaries@presbyterianrecord.