Definition of M3

M3 is a measure of money supply including M2 and large time deposits, institutional money market funds, short-term repurchase agreements, and other large liquid assets.

Applying "M3" to Securities Exams:

M3 Includes all of the measures in M1 and M2 plus

  • Time deposits greater than $100,000
  • Repurchase agreements with maturities greater than 1 day

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