M1: currency held by the public, traveler's checks. checking account balances, credit union balances, NOW and super-NOW accounts, automatic transfer service accounts.
M2: M1 plus savings accounts, time deposits smaller than $100,000 at depository institutions, overnight repurchase agreements at commercial banks, money market mutual fund accounts.
M3: M2 plus time deposits over $100,000 at depository institutions, repurchase agreements with maturities longer than one day at commercial banks, and institutional money market accounts.
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Last revised: 8 July 2005.