PRESS RELEASE

Euro Area Monetary Aggregates Conceptual Reconciliation Exercise

14 July 1999

The European Central Bank (ECB) has today released the publication entitled "Euro Area Monetary Aggregates Conceptual Reconciliation Exercise".

This publication presents some selected results of a conceptual reconciliation exercise carried out during 1998. The aim of this exercise was to identify the links between the categories of financial instruments included before the start of Monetary Union in the national monetary aggregates of the Member States now participating in the euro area and the current harmonised categories in the balance sheet statistics of the Monetary Financial Institutions sector. These balance sheet statistics provide the basis for the derivation of the euro area broad monetary aggregate M3.

The publication is available on the ECB's Web site. Copies of the printed version can be ordered free of charge from the ECB's Press Division (Fax: +49 69 1344 7404).

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