M3 comprises M2 and other quasi-monetary liabilities of commercial banks. Other quasi-monetary liabilities comprise foreign currency deposits of businesses, individuals, and government entities; marginal deposits for letters of credit, outstanding remittances; and banks' repurchase agreements with the private sector.
Copyright, 2014, International Monetary Fund. Reprinted with permission.
Source: International Monetary Fund
Release: International Financial Statistics
International Monetary Fund, M3 for Saudi Arabia© [MYAGM3SAM189N], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/MYAGM3SAM189N/, August 30, 2015.