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1–7 of 7 collapsed search results for monetary aggregates

RBA Glossary definition for monetary aggregates

monetary aggregates – A series of measures of the values of currency on issue, current deposits with banks, other deposits with banks, plus borrowings from the private sector by non-bank financial institutions (NBFIs) less currency and bank deposits by NBFIs. Components consist of: 'M1' defined as currency plus bank current deposits from the private non-bank sector; 'M3' defined as M1 plus all other authorised deposit-taking institution (ADI) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another; 'Broad money' defined as M3 plus other short-term liquid AFI liabilities held by the private sector, except those held by other AFIs ; 'Money base' defined as holdings of banknotes and coins by the private sector plus deposits of banks with the Reserve Bank of Australia (RBA) and other RBA liabilities to the private non-bank sector

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Changes in the Behaviour of Banks and Their Implications for Financial Aggregates

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1989/8904.html

References

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
8803, January. Gramley, L.E., (1982) “Financial Innovation and Monetary Policy”,. U.S. ... Reserve Bank of Australia (1984), “Monetary Aggregates as Monetary Indicators”, Reserve Bank.
https://www.rba.gov.au/publications/rdp/1989/8904/references.html

Conclusion

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
The change from asset management to liability management also means that monetary aggregates can be subject to large fluctuations in response to shifts in the methods of funding by banks. ... The relationship between monetary aggregates and economic
https://www.rba.gov.au/publications/rdp/1989/8904/conclusion.html

Changes in the Behaviour of Banks and Their Implications for Financial Aggregates

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1989/8904/

Changes to SRD Arrangements

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
Conventional monetary aggregates, which measure only the extent to which loans are funded through Australian dollar deposits, understated the provision of finance even more so. ... This removed the disincentive to raising domestic deposits. There have
https://www.rba.gov.au/publications/rdp/1989/8904/changes-to-srd-arrangements.html

Appendix: Changes to Bank Regulations

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
RDP 8904: Changes in the Behaviour of Banks and their Implications for Financial Aggregates Appendix: Changes to Bank Regulations. ... Since the early 1960s, the RBA had used quantitative controls on bank lending in its monetary policy.
https://www.rba.gov.au/publications/rdp/1989/8904/appendix.html

Removal of Interest Rate Controls and the Shift to Liability Management

1 Jul 1989 RDP 8904
Ric Battellino and Nola McMillan
RDP 8904: Changes in the Behaviour of Banks and their Implications for Financial Aggregates 2. ... d) Implications for monetary aggregates. The implications for M3 of these changes in behaviour of trading and savings banks can be seen in Graph 5.
https://www.rba.gov.au/publications/rdp/1989/8904/removal-of-interest-rate-controls-and-the-shift-to-liability-management.html