Money supply

This series is now ended by the RBNZ, replaced by new definitions. It is here for historical purposes only.

This data was published monthly by the Reserve Bank, in their C1 series.

M0 is Notes and coin on issue from the Reserve Bank.

M1 is M0 plus chequing accounts (or in technical language, chequeable deposits, minus inter-institutional chequeable deposits, and minus central government deposits.)

M2 is M1 plus savings accounts at call (or technically, all non-M1 call funding (call funding includes overnight money and funding on terms that can of right be broken without break penalties) minus inter-institutional non-M1 call funding.)

M3 is the broadest monetary aggregate. Basically, it is M2 plus the loans issued by banks. (Technically, it represents all New Zealand dollar funding of M3 institutions and any Reserve Bank repos with non-M3 institutions. M3 consists of notes & coin held by the public plus NZ dollar funding minus inter-M3 institutional claims and minus central government deposits.)

You can find the formal definitions of these money supply concepts here >> www.rbnz.govt.nz/statistics/monfin/c1/description.html