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Sterling M3

Volume 975: debated on Friday 7 December 1979

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asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the composition of sterling M3 in notes and coin, current accounts, retail seven-day deposits and wholesale deposits plus the ratio of building society deposits and trustee savings bank/national savings bank deposits, for 1978–79.

It is not clear which ratio the hon. Member requires. Changes in the various aggregates during the financial year 1978–79 were as follow:

£ millionTable reference in Financial Statistics
Sterling M35,2867·2
Building society deposits4,6998·6
Trustee savings banks—
Ordinary deposits–703·14
New deposits5318·2
National savings bank—
Ordinary account1293·14
Investment account–2448·3
Components of sterling M3 are shown in tables 7.1 and 7.2 of

Financial Statistics. Data on retail and wholesale bank deposits are not collected because of difficulties in arriving at a generally acceptable definition.