Short-term government securities outstanding or program scale. Bills fund government; they are not newly created money.
How financial claims
accumulate through time.
Choose a major economy and compare broad money, private credit, listed-equity capitalization, and nominal output as indexed histories.
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Broad moneyCurrency and liquid deposits · stockPrivate creditCredit relative to GDP · ratioEquity market capListed-company market value · stockNominal GDPAnnual production and income · flow
LATEST INDEX BY SERIES100 = selected base year · above 100 means growth · below 100 means contraction
INTERPRETATION
Creation, valuation and output differ
Broad moneyA stock of currency and liquid deposits. It expands through banking, fiscal and central-bank channels, but definitions differ across countries.
Credit and equityPrivate credit is a balance-sheet claim; equity capitalization also changes when prices move, so growth is not purely new issuance.
GDPNominal GDP is an annual production/income flow. It is included as an economic-scale reference and must not be added to financial stocks.
NATIONAL DEBTLoading…
Latest comparable central-government debt stock relative to GDP, with an approximate nominal amount using same-year GDP when available. Definitions and government coverage differ. World Bank source ↗
ISSUERS
Who creates what?
Rounded USD-equivalent reference scales. These liabilities have different definitions and must not be added as though they were one measure.
Currency and reserve liabilities issued by the central bank or monetary authority.
Bank deposits created and extinguished mainly through lending, repayment and settlement.
ANNUAL CHANGE
Issuer-linked money creation
Estimated yearly balance-sheet change for sovereign bills, central-bank money and private-bank deposit money.
Government net bill issuanceCentral-bank balance-sheet changePrivate-bank deposit change
Interpretation boundary
These are directional, rounded reference estimates derived from issuer stock scales and annual change assumptions—not a harmonized official dataset. Bill issuance finances government and is not itself money creation; deposits can be extinguished by repayment; central-bank liabilities can contract. Do not add the three series as “new wealth.”
Reference families: IMF central-bank monetary statistics · World Bank broad money · BIS government and private credit · official country bill authorities. The displayed annual numbers are site estimates, not values downloaded directly from these sources.