M2 (M2NS)

Source: Board of Governors of the Federal Reserve System (US)  

Release: H.6 Money Stock Measures  

Units:  Billions of Dollars, Not Seasonally Adjusted

Frequency:  Monthly

Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000); and (3) balances in retail money market funds (MMFs); less individual retirement account (IRA) and Keogh account balances at depository institutions and MMFs.

Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) and (2) balances in retail MMFs, less IRA and Keogh account balances at depository institutions and MMFs.

For more information on the H.6 release changes and the regulatory amendment that led to the creation of the other liquid deposits component and its inclusion in the M1 monetary aggregate, see the H.6 announcements and Technical Q&As posted on December 17, 2020.

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