As part of the M3 money supply metric, assets such as long-term time deposits, short-term repurchase agreements (repos), institutional money market funds, and other high-liquidity assets are included. "Near money" assets are referred to as such because they are more closely connected to the financing of large banks and corporations than to the financing of small companies and individuals. M3 has been largely replaced by M0 (MZM) in terms of the money supply. For historical comparability, M3 continues to be released as a source of economic data.

M3 holdings, otherwise known as M3 money supply, is the sum of all physical currency, demand deposits and other deposits that are easily converted to cash. This includes cheques and travelers' cheques, savings and time deposits.

M3 holdings are one of the ways individuals measure the money supply in the United States. M3 is used to represent money in circulation and includes bank deposits, checking accounts, money market accounts, and other types of savings