Money Supply Calculator (M0, M1, M2, M3 and Money Multiplier)

Your details

Physical paper currency and coin held by the public (outside banks). This is the core of M0.
B USD
Deposits that commercial banks hold at the Federal Reserve. Adding these to notes gives the monetary base (MB).
B USD
Checking account balances that can be withdrawn immediately on demand.
B USD
Outstanding traveler's checks issued by non-bank companies.
B USD
NOW accounts and ATS (automatic transfer service) accounts.
B USD
Savings accounts and money market deposit accounts (MMDAs) held at banks.
B USD
Certificates of deposit with a face value below $100,000, which cannot be withdrawn on demand.
B USD
Shares in money market funds held by individual investors (not institutions).
B USD
Certificates of deposit with a face value above $100,000, typically held by institutions.
B USD
Money market fund shares held by institutional investors such as pension funds and corporations.
B USD
The fraction of deposits banks are required to hold as reserves. The U.S. set this to zero in March 2020; use a positive value for classroom models.
%
Optional: enter a custom monetary base for the multiplier calculation. Leave at 0 to use the computed MB (notes + bank reserves) from above.
B USD
M1
8,203B USD

Most liquid money: currency + demand + checkable deposits

M0 (monetary base - currency)2,200B USD
MB (monetary base)5,400B USD
M220,883B USD
M326,383B USD
Deposit money multiplier10
Implied money supply (MB x multiplier)54,000B USD
M02,200
M18,203
M220,883
M326,383

M1 is 8203 B USD; M2 is 20883 B USD; M3 is 26383 B USD.

  • M2 is 2.5x M1, meaning about 61% of the broad money supply is held in savings, small CDs, and retail money market funds rather than immediately spendable accounts.
  • The M3 add-ons (large CDs and institutional money market funds) contribute 5500 B USD on top of M2, representing 21% of the broadest aggregate shown.
  • With a 10% reserve ratio, every $1 of central bank money can theoretically support up to $10.00 of broad money through repeated lending (the deposit multiplier).

Next stepCompare M1 to M3 to gauge how much of the money supply is tied up in less-liquid instruments. A high M3/M1 ratio often signals a deeper financial system with more credit creation.

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