Iceland | Broad money growth (annual %)

Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper. Limitations and exceptions: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period. The valuation of financial derivatives and the net liabilities of the banking system can also be difficult. The quality of commercial bank reporting also may be adversely affected by delays in reports from bank branches, especially in countries where branch accounts are not computerized. Thus the data in the balance sheets of commercial banks may be based on preliminary estimates subject to constant revision. This problem is likely to be even more serious for nonbank financial intermediaries. Statistical concept and methodology: Money and the financial accounts that record the supply of money lie at the heart of a country’s financial system. There are several commonly used definitions of the money supply. The narrowest, M1, encompasses currency held by the public and demand deposits with banks. M2 includes M1 plus time and savings deposits with banks that require prior notice for withdrawal. M3 includes M2 as well as various money market instruments, such as certificates of deposit issued by banks, bank deposits denominated in foreign currency, and deposits with financial institutions other than banks. However defined, money is a liability of the banking system, distinguished from other bank liabilities by the special role it plays as a medium of exchange, a unit of account, and a store of value.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Iceland | Broad money growth (annual %)
year value
1960
1961 26.02490131
1962 25.06024096
1963 14.31599229
1964 3.87493679
1965 25.21864707
1966 11.88788535
1967 20.49336962
1968 8.66782007
1969 23.34553946
1970 23.85623727
1971 20.78740157
1972 18.27785873
1973 32.44257485
1974 28.62519507
1975 28.95375393
1976 32.87398306
1977 44.05570133
1978 48.42567874
1979 57.21502549
1980 65.31994598
1981 24.88164269
1982 70.29838056
1983 80.1095315
1984 34.15807681
1985 53.48820589
1986 31.89997228
1987 36.87908042
1988 30.54223144
1989 50.6418215
1990 14.10558794
1991 15.91033192
1992 3.89894095
1993 6.53316348
1994 2.03603916
1995 2.52057316
1996 6.18932036
1997 9.35241241
1998 15.19087279
1999 17.25790022
2000 10.73925986
2001 15.1603125
2002 14.74184571
2003 22.36902306
2004 16.35419681
2005 26.2064499
2006 60.11919121
2007 5.8544681
2008 32.0906531
2009 2.47097439
2010 -10.02115662
2011 5.69272888
2012 -4.56844477
2013 4.65403969
2014 5.78693781
2015 5.57257934
2016 -4.63526519
2017 5.03419043
2018 6.99179531
2019 6.59399516
2020 7.36536447
2021 10.86720855
2022 8.86771419

Iceland | Broad money growth (annual %)

Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper. Limitations and exceptions: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period. The valuation of financial derivatives and the net liabilities of the banking system can also be difficult. The quality of commercial bank reporting also may be adversely affected by delays in reports from bank branches, especially in countries where branch accounts are not computerized. Thus the data in the balance sheets of commercial banks may be based on preliminary estimates subject to constant revision. This problem is likely to be even more serious for nonbank financial intermediaries. Statistical concept and methodology: Money and the financial accounts that record the supply of money lie at the heart of a country’s financial system. There are several commonly used definitions of the money supply. The narrowest, M1, encompasses currency held by the public and demand deposits with banks. M2 includes M1 plus time and savings deposits with banks that require prior notice for withdrawal. M3 includes M2 as well as various money market instruments, such as certificates of deposit issued by banks, bank deposits denominated in foreign currency, and deposits with financial institutions other than banks. However defined, money is a liability of the banking system, distinguished from other bank liabilities by the special role it plays as a medium of exchange, a unit of account, and a store of value.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source