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Summary Methodology Money Supply (National Definition), M2

Money supply (M2) —  sum of cash in circulation and bal­ances in the domestic currency on current, other demand ac­counts (including bank card payment accounts), time deposits and interest accrued of nonfinancial organizations — residents of the RF, financial institutions (except for credit ones) — residents of the RF and the RF resident households. The money supply in the national definition includes all cash and deposits of the RF resident nonfinancial organizations, the RF resident financial institutions (except for credit ones) and the RF resident house­holds with the operating credit institutions — residents of the RF in rubles.

Cash in circulation (M0 monetary aggregate) — the most liquid part of the money supply, accessible for immediate use as a mean of payment. It includes banknotes and coins in circula­tion, i.e. currency issued by the Bank of Russia into circulation less currency holdings (cash vaults) of the Bank of Russia and credit institutions.

Transferable deposits — current and other demand accounts (including bank card payment accounts) and interest accrued of nonfinancial organizations — residents of the RF, fi­nancial institutions (except for credit ones) — residents of the RF and households — residents of the RF.

M1 monetary aggregate — part of M2 monetary aggregate. M1 is a sum of cash in circulation (M0) and transferable deposits.

Other deposits — time deposits and interest accrued of nonfinancial organizations — residents of the RF, financial in­stitutions (except for credit ones) — residents of the RF and households — residents of the RF.

Monetary aggregates M1 and M2 do not include deposits in credit institutions with revoked licenses.

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Last updated on: 30/10/2020