Broad money

Broad money
Broad money has a broader definition of money by including less liquid deposits like time deposits of banks and major financial institutions under its category.
Broad Money (M3) =     M2 + Term Deposits of residents with a contractual maturity of over one year with the Banking System + Call/Term borrowings from ‘Non-depository’ financial corporations by the Banking System.

November 3, 2017
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