Supporting information:

Series description - Weekly Money and Credit Aggregates

M1(W)

Includes notes and coin held by the public plus chequeable deposits, minus inter-institutional chequeable deposits, and minus central government deposits, all in New Zealand dollars.

M3(W)

The broadest monetary aggregate. Represents all New Zealand dollar funding of M3 institutions. Consists of notes & coin held by the public plus NZ dollar funding minus inter-M3 institutional claims and minus government deposits.

PSC(W)

Private Sector Credit. Consists of the sum of M3 institutions' New Zealand dollar claims on (lending to) the private sector and excluding inter-institutional claims

M3 institutions

Financial institutions that are surveyed by the Reserve Bank in compiling the monetary aggregates are defined as M3 institutions.

Currency in circulation

Notes and coin on issue from the Reserve Bank.

Notes and coin held by the public

Notes and coin on issue minus currency held by M3 institutions.

Transaction call (cheque)

All cheque account balances.

Inter-institutional

Transactions between surveyed M3 institutions.

Government deposits

Deposits at M3 institutions from Government Departments.

Eftpos less cheque

The total balances of all product accounts regardless of terms to maturity from which account holders can make EFTPOS payments. Cheque accounts are excluded to ensure no double-counting.

New Zealand dollar funding and claims

All deposits and loans denominated in New Zealand dollars.

Foreign currency funding and claims

Foreign currency funding and claims items are normally converted into New Zealand dollars at the "mid-rates", or similar rate used by the respondent, applying at the end of the month.

New Zealand government bonds and Treasury bills

Risk free securities issued by the Crown to cover underlying differences between fiscal revenues and expenditures. Not included are Reserve Bank bills and State Owned Enterprises. Index-linked bonds are also included.

Claims on the Reserve Bank

Claims by settlement banks on the Reserve Bank.