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The Economic Report of the President estimated that for 1997, the US had the following money stock components (in billions): $426 in currency; $391.7 in checking account deposits; $8.2 in travelers checks; $242.8 in other checkable deposits; $963.7 in small denomination time deposits; $1395.4 in savings accounts; $591.5 in retail money market mutual funds; $579.2 in large time deposits; $235.9 in term repurchase agreements; $139.1 in Eurodollar accounts; and $359.5 in institutional money market mutual funds.
-The value of M2 was

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M2 includes currency, checking account deposits, travelers checks, other checkable deposits, small denomination time deposits, savings accounts, and retail money market mutual funds. M2 does not include large time deposits, term repurchase agreements, Eurodollar accounts, or institutional money market mutual funds. Therefore, M2 = $426 + $391.7 + $8.2 + $242.8 + $963.7 + $1395.4 + $591.5 = $4019.3 billion.

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