§ Mr. Gouldasked the Chancellor of the Exchequer whether there has been an increase since May 1979 in the inflow and outflow of money which is not covered by the definition of sterling M3.
§ Mr. MooreSterling M3 comprises notes and coin and United Kingdom residents' sterling deposits with United Kingdom banks. Other types of bank deposit not included in sterling M3 are: United Kingdom residents' holdings of foreign currency deposits (included in M3), overseas sector deposits with United Kingdom banks—given in "Financial Statistics", table 6.1—and United Kingdom residents' deposits with banks abroad—details appear in theBank of England Quarterly Bulletin, table 13.1, but this covers only banks in certain of the larger overseas countries. These categories of deposit have all risen since 1979. An article on monetary statistics in the Bank of England Quarterly Bulletin December 1982 discusses their relevance to measures of domestic monetary conditions.