Data series

Footnotes1.1. Monetary Aggregates

1.1. Monetary Aggregates

Footnotes

The data for aggregate M1 (column 1) has been changed in march 2007 for the reference period December 2004 to December 2006.The table shows stock data at the end of month for monetary aggregates M1, M2 and M3, calculated according to the definition of the European Central Bank. The item 'Currency in circulation' is calculated on the basis of the Capital Share Mechanism (CSM) which foresees the split of the total amount of issued banknotes in the euro area between the different national central banks of the euro area with respect to their share in the capital of the ECB (8% of the total value of the euro area banknotes in circulation is allotted to the ECB). Coins (which are in fact the liability of the central government) are added to the total amount of banknotes. The item 'Cash' held by the MFIs is deducted from the total amount of currency (banknotes and coins).The contribution of the Slovenia to the euro area monetary aggregates does not represent monetary aggregates of Slovenia. The concept of residency is the one of the euro area. Due to the consolidation within the MFI sector on the level of euro area countries the aggregate M3 could become smaller than M2.