Supporting information:

C3 Monetary and credit aggregates (NZ$ million)


	*Previous Years:*		*Monthly:*
	Apr 2011	Apr 2012	Dec 2012	Jan 2013	Feb 2013	Mar 2013	Apr 2013
Notes and coin held by the public
1. Currency in circulation	4,335	4,421	5,052	4,644	4,605	4,763	4,634
2. Less currency held by M3 institutions	674	661	1,039	662	617	722	668
Notes and coin held by the public (1-2)	3,661	3,760	4,013	3,983	3,988	4,041	3,966

M1
3. Transaction balances (cheque)	29,311	30,490	32,517	30,909	30,836	32,854	33,439
4. Less inter-institutional transaction balances (cheque)	0	2	-	-	0	28	4
5. Less Government transaction deposits	106	99	109	101	104	105	108
M1 (Notes & coin +3-4-5)	32,866	34,149	36,420	34,791	34,721	36,762	37,293

M2
6. Transaction EFTPOS (excl.cheque)	11,956	13,579	15,985	15,942	15,967	16,063	16,396
7. Total other call funding	40,682	45,898	50,885	51,911	52,363	53,050	55,061
8. Less inter-institutional EFTPOS (excl.cheque)	-	-	-	-	-	-	-
9. Less other call inter-institutional funding	31	43	210	30	142	42	18
M2 (M1+6+7-8-9)	85,474	93,583	103,080	102,614	102,909	105,833	108,732

M3 Broad money
10. NZD funding	242,250	254,600	266,109	264,775	266,101	267,495	271,990
11. Less NZD inter-institutional claims	14,263	13,798	15,227	16,062	14,218	13,248	15,209
12. Less Government deposits	921	870	1,284	1,263	1,491	1,296	1,183
M3 (Notes & coin +10-11-12)	230,727	243,691	253,611	251,432	254,381	256,992	259,564
13. Less NZD funding from non-residents	34,440	34,882	34,195	33,261	34,024	34,218	35,320
M3R (M3-13)	196,287	208,809	219,416	218,172	220,357	222,774	224,244
M3 excluding repos	229,033	241,799	252,070	249,935	252,981	256,083	258,764
M3R excluding repos	194,949	207,267	218,383	217,484	219,699	222,173	224,303

Private Sector Credit
1. NZD claims (all surveyed institutions)	318,924	325,781	334,779	335,715	335,863	336,926	339,985
2. Less NZD inter-institutional claims	14,263	13,798	15,227	16,062	14,218	13,248	15,209
PSC (1-2)	304,662	311,983	319,553	319,653	321,645	323,679	324,777
3. Less NZD claims on non-residents	8,736	6,752	7,434	7,145	7,932	8,687	8,396
PSCR (PSC-3)	295,925	305,231	312,119	312,509	313,713	314,991	316,381
PSC excluding repos	301,671	307,350	316,126	317,033	318,629	321,180	322,822
PSCR excluding repos	295,057	301,009	309,396	310,321	310,963	312,938	314,776

Domestic Credit
4. Claims on Govt by M3 institutions	14,696	17,186	15,231	13,308	13,584	12,539	12,264
5. Claims on Govt by Reserve Bank	-8,591	-5,543	-1,581	-4,399	-3,830	-2,592	-290
DC (PSC+4+5)	310,767	323,627	333,202	328,562	331,399	333,625	336,751
DCR (PSCR+4+5)	302,031	316,875	325,769	321,417	323,467	324,938	328,355

Memo
1. Net foreign currency assets of M3 institutions	-77,156	-73,087	-66,653	-66,591	-65,604	-63,195	-60,674
2. Net foreign currency assets of the Reserve Bank	18,608	17,216	14,013	17,063	17,036	15,591	14,192
Net foreign currency assets NFCA (1+2)	-58,548	-55,871	-52,641	-49,528	-48,568	-47,603	-46,482
1. Capital & Reserves of M3 institutions	-26,098	-28,933	-31,481	-31,746	-32,004	-31,920	-32,292
2. Balance sheet items n.e.c. net	4,605	4,869	4,530	4,145	3,554	2,889	1,587
Residual items (1+2)	-21,493	-24,065	-26,950	-27,601	-28,450	-29,031	-30,705
M3 (DC+NFCA+Residual)	230,727	243,691	253,611	251,432	254,381	256,992	259,564



Last updated 31 May 2013
Source: Reserve Bank of New Zealand