M3 is one of the least liquid monetary aggregates of the money supply. It is obtained by adding long-term deposits (money market fund shares, repurchase agreements, fixed-income securities, etc.) to M2.
M3 = M2 + money market fund shares + repos + fixed-income securities.
Related terms
Monetary aggregates | Central Bank | Money | Liquidity | Monetary base | M1 | M2 | M4 | Money supply