Definition - What does M3 mean?
M3 is a measure of money supply including M2 and large time deposits, institutional money market funds, short-term repurchase agreements, and other large liquid assets.
Testopedia explains M3
M3 Includes all of the measures in M1 and M2 plus
- Time deposits greater than $100,000
- Repurchase agreements with maturities greater than 1 day