Iceland - Broad money growth (annual %)

The value for Broad money growth (annual %) in Iceland was 7.37 as of 2020. As the graph below shows, over the past 59 years this indicator reached a maximum value of 80.11 in 1983 and a minimum value of -10.02 in 2010.

Definition: 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.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1961 26.02
1962 25.06
1963 14.32
1964 3.87
1965 25.22
1966 11.89
1967 20.49
1968 8.67
1969 23.35
1970 23.86
1971 20.79
1972 18.28
1973 32.44
1974 28.63
1975 28.95
1976 32.87
1977 44.06
1978 48.43
1979 57.22
1980 65.32
1981 24.88
1982 70.30
1983 80.11
1984 34.16
1985 53.49
1986 31.90
1987 36.88
1988 30.54
1989 50.64
1990 14.11
1991 15.91
1992 3.90
1993 6.53
1994 2.04
1995 2.52
1996 6.19
1997 9.35
1998 15.19
1999 17.26
2000 10.74
2001 15.16
2002 14.74
2003 22.37
2004 16.35
2005 26.21
2006 60.12
2007 5.85
2008 32.09
2009 2.47
2010 -10.02
2011 5.69
2012 -4.57
2013 4.65
2014 5.79
2015 5.57
2016 -4.64
2017 5.03
2018 6.99
2019 6.59
2020 7.37

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.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Monetary holdings (liabilities)