Money supply M3 in Eurozone 2023

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M3, called "broad money" is the sum of M1 (currency in circulation and overnight deposits), M2 (M1 plus deposits with a maximum maturity of two years and deposits redeemable at notice for a maximum of three months) and marketable instruments issued by Monetary Financial Institutions such as repurchase instruments or money market fund units. The value of money supply M3 in the euro area was valued at 16.1 trillion euros as of December 2023.

M2 money supply

M2 is the calculation of money supply, which includes cash, checking deposits and convertible near money. Considered broad money, the money supply M2 includes M1. The measurement is used as a factor in forecasting inflation and interest rates and is used by central banks in creating and regulating policies. At the end of 2023, the value of the M2 money supply in the euro area amounted to approximately 15.3 trillion euros.

M1 money supply

M1, called "narrow money", includes currency in circulation (banknotes and coins) and overnight deposits. It depicts the value of the most liquid components of the money supply. The value of money supply M1 amounted to approximately 11.3 trillion euros as of December 2023.

Development of the money supply M3 in the euro area from 2001 to 2023 (in billion euros)

Characteristic	Money supply in billion euros
2023	16,112
2022	16,090
2021	15,484
2020	14,522
2019	13,003
2018	12,368
2017	11,870
2016	11,372
2015	10,839
2014	10,309
2013	9,831
2012	9,741
2011	9,724
2010	9,525
2009	9,335
2008	9,362
2007	8,642
2006	7,711
2005	7,057
2004	6,529
2003	6,142
2002	5,741
2001	5,385