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Supporting information:

C3 Monetary and credit aggregates (NZ$ million)


                               
    Previous Years:   Monthly:
    Mar 2010   Mar 2011     Nov 2011   Dec 2011   Jan 2012   Feb 2012   Mar 2012
Notes and coin held by the public                              
1. Currency in circulation   4,198   4,287     4,361   4,892   4,471   4,409   4,435
2. Less currency held by M3 institutions   677   633     620   955   662   607   616
Notes and coin held by the public (1-2)   3,521   3,654     3,741   3,938   3,809   3,802   3,819
                               
M1                              
3. Transaction balances (cheque)   26,074   28,585     29,557   30,207   28,934   29,147   29,821
4. Less inter-institutional transaction balances (cheque)   0   0     5   3   35   17   4
5. Less Government transaction deposits   142   120     94   98   88   92   112
M1 (Notes & coin +3-4-5)   29,453   32,119     33,198   34,044   32,620   32,839   33,523
                               
M2                              
6. Transaction EFTPOS (excl.cheque)   11,599   11,701     12,820   12,849   13,209   13,522   13,747
7. Total other call funding   37,261   38,940     45,292   44,972   45,341   44,848   45,104
8. Less inter-institutional EFTPOS (excl.cheque)   -   -     -   -   -   -   -
9. Less other call inter-institutional funding   214   21     279   199   34   131   29
M2 (M1+6+7-8-9)   78,098   82,739     91,032   91,666   91,136   91,078   92,344
                               
M3 Broad money                              
10. NZD funding   229,242   239,840     248,968   248,129   246,810   248,284   251,077
11. Less NZD inter-institutional claims   16,250   14,025     14,788   11,802   13,532   12,635   14,021
12. Less Government deposits   753   981     1,013   992   954   998   937
M3 (Notes & coin +10-11-12)   215,761   228,489     236,908   239,272   236,133   238,453   239,938
13. Less NZD funding from non-residents   35,857   35,126     36,390   36,120   34,610   35,279   34,372
M3R (M3-13)   179,904   193,363     200,518   203,152   201,523   203,174   205,566
M3 excluding repos   215,409   228,162     236,133   238,429   235,661   237,859   238,579
M3R excluding repos   179,575   193,127     199,807   202,531   201,179   202,740   204,267
                               
Private Sector Credit                              
1. NZD claims (all surveyed institutions)   315,440   318,814     324,937   319,790   322,840   321,951   324,195
2. Less NZD inter-institutional claims   16,250   14,025     14,788   11,802   13,532   12,635   14,021
PSC (1-2)   299,190   304,790     310,149   307,987   309,309   309,317   310,173
3. Less NZD claims on non-residents   7,517   9,482     8,022   6,173   6,277   6,140   6,533
PSCR (PSC-3)   291,674   295,308     302,127   301,814   303,031   303,177   303,640
PSC excluding repos   298,551   302,760     305,475   304,213   305,468   305,312   306,267
PSCR excluding repos   291,288   294,773     299,046   298,889   300,191   299,776   300,257
                               
Domestic Credit                              
4. Claims on Govt by M3 institutions   11,102   14,225     17,209   16,664   16,362   15,826   16,119
5. Claims on Govt by Reserve Bank   -4,934   -7,289     -6,256   -3,309   -5,631   -5,370   -6,165
DC (PSC+4+5)   305,359   311,725     321,102   321,341   320,039   319,772   320,128
DCR (PSCR+4+5)   297,842   302,243     313,080   315,168   313,762   313,632   313,595
                               
Memo                              
1. Net foreign currency assets of M3 institutions   -85,645   -81,122     -82,780   -76,204   -75,440   -75,566   -74,543
2. Net foreign currency assets of the Reserve Bank   14,770   18,008     19,291   16,650   18,194   19,150   18,368
Net foreign currency assets NFCA (1+2)   -70,875   -63,115     -63,489   -59,555   -57,246   -56,416   -56,175
1. Capital & Reserves of M3 institutions   -24,313   -26,089     -28,093   -28,517   -28,686   -28,558   -28,875
2. Balance sheet items n.e.c. net   5,590   5,968     7,388   6,003   2,025   3,655   4,860
Residual items (1+2)   -18,723   -20,122     -20,705   -22,514   -26,660   -24,903   -24,015
M3 (DC+NFCA+Residual)   215,761   228,489     236,908   239,272   236,133   238,453   239,938
                               
                               
Last updated 30 April 2012
Source: Reserve Bank of New Zealand