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C3 Monetary and credit aggregate components


($NZmillion) Previous years: Monthly:
Monetary aggregates Aug 2006 Aug 2007   Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008
1. Currency in circulation 3,373 3,364   3,611 3,532 3,447 3,485 3,494
2. Less currency held by M3 institutions 559 510   595 512 499 478 451
Notes and coin held by the public (1-2) 2,813 2,854   3,016 3,021 2,948 3,007 3,043
3. Transaction balances (cheque) 19,563 19,033   21,166 21,104 21,116 20,840 20,394
4. Less inter-institutional transaction balances (cheque) 35 12   11 46 42 4 15
5. Less Government transaction deposits 72 87   95 100 96 98 103
M1 (Notes & coin +3-4-5) 22,269 21,789   24,076 23,979 23,926 23,745 23,319
6. Transaction EFTPOS (excl. cheque) 13,674 12,436   11,485 11,236 11,290 11,403 11,189
7. Total other call funding 33,181 35,826   34,892 33,083 35,922 35,935 36,254
8. Less inter-institutional EFTPOS (excl. cheque) - -   - - - - -
9. Less other call inter-institutional funding 776 547   139 140 144 107 70
M2 (M1+6+7-8-9) 68,348 69,504   70,315 68,158 70,994 70,975 70,692
10. NZD funding 188,388 206,712   212,941 213,383 217,290 215,866 217,568
11. Less NZD inter-institutional claims 14,465 17,762   14,257 14,728 14,703 14,858 15,042
12. Less Government deposits 402 434   312 321 356 353 339
M3 (Notes & coin +10-11-12) 176,335 191,369   201,389 201,354 205,179 203,662 205,230
13. Less NZD funding from non-residents 38,373 42,257   38,922 38,522 40,548 38,940 39,998
M3R (M3-13) 137,963 149,112   162,467 162,832 164,631 164,722 165,232
M3 excluding repos 175,158 190,929   201,155 201,715 205,123 203,550 205,281
M3R excluding repos 137,849 149,253   162,505 163,528 164,757 164,709 165,539
Credit aggregates                
1. NZD claims (all surveyed institutions) 243,740 278,636   290,159 294,463 295,778 297,675 299,982
2. Less NZD inter-institutional claims 14,465 17,762   14,257 14,728 14,703 14,858 15,042
PSC (1-2) 229,275 260,835   275,852 279,684 281,008 282,746 284,875
3. Less NZD claims on non residents 9,111 9,603   7,418 8,022 7,991 7,836 7,644
PSCR (PSC-3) 220,165 251,231   268,433 271,662 273,018 274,910 277,231
PSC excluding repos 227,038 259,100   275,049 278,833 280,109 282,053 284,155
PSCR excluding repos 219,093 249,937   267,823 270,912 272,319 274,401 276,658
4. Claims on Govt by M3 institutions 2,054 1,157   1,394 1,646 1,698 1,270 1,473
5. Claims on Govt by Reserve Bank 2,351 251   -2,345 -3,537 -3,605 615 213
DC (PSC+4+5) 233,681 262,242   274,900 277,794 279,101 284,631 286,560
DCR (PSCR+4+5) 224,570 252,639   267,482 269,772 271,111 276,795 278,917
1. Net foreign currency assets of M3 institutions -44,751 -68,458   -71,568 -73,431 -71,610 -76,566 -74,607
2. Net foreign currency assets of the Reserve Bank 6,642 13,815   16,133 16,819 16,441 12,980 12,349
Net foreign currency assets NFCA (1+2) -38,109 -54,643   -55,436 -56,612 -55,169 -63,585 -62,258
1. Capital & Reserves of M3 institutions -19,994 -20,607   -22,327 -22,605 -22,252 -22,364 -22,581
2. Balance sheet items n.e.c. net 757 4,377   4,251 2,778 3,499 4,980 3,509
Residual items (1+2) -19,237 -16,230   -18,076 -19,828 -18,753 -17,384 -19,072
M3 (DC + NFCA + Residual) 176,335 191,369   201,389 201,354 205,179 203,662 205,230
                 
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Last updated 29 September 2008