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 %)
1960
26.02490131 1961
25.06024096 1962
14.31599229 1963
3.87493679 1964
25.21864707 1965
11.88788535 1966
20.49336962 1967
8.66782007 1968
23.34553946 1969
23.85623727 1970
20.78740157 1971
18.27785873 1972
32.44257485 1973
28.62519507 1974
28.95375393 1975
32.87398306 1976
44.05570133 1977
48.42567874 1978
57.21502549 1979
65.31994598 1980
24.88164269 1981
70.29838056 1982
80.1095315 1983
34.15807681 1984
53.48820589 1985
31.89997228 1986
36.87908042 1987
30.54223144 1988
50.6418215 1989
14.10558794 1990
15.91033192 1991
3.89894095 1992
6.53316348 1993
2.03603916 1994
2.52057316 1995
6.18932036 1996
9.35241241 1997
15.19087279 1998
17.25790022 1999
10.73925986 2000
15.1603125 2001
14.74184571 2002
22.36902306 2003
16.35419681 2004
26.2064499 2005
60.11919121 2006
5.8544681 2007
32.0906531 2008
2.47097439 2009
-10.02115662 2010
5.69272888 2011
-4.56844477 2012
4.65403969 2013
5.78693781 2014
5.57257934 2015
-4.63526519 2016
5.03419043 2017
6.99179531 2018
6.59399516 2019
7.36536447 2020
10.86720855 2021
8.86771419 2022

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