This entry covers all of "Narrow money," plus the total quantity of time and savings deposits, credit union deposits, institutional money market funds, short-term repurchase agreements between the central bank and commercial deposit banks, and other large liquid assets held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. In addition to serving as a medium of exchange, broad money includes assets that are slightly less liquid than narrow money and the assets tend to function as a "store of value" - a means of holding wealth.
$11.17 trillion (31 December 2010 est.)
$10.83 trillion (31 December 2009 est.)
note: this is the quantity of broad money for the euro area, converted into US dollars at the exchange rate for the date indicated; it excludes the stock of broad money carried by non-euro-area members of the European Union