To date, only provisional data are available on purchases of money market paper and of short-term debt securities by non-euro area residents. By the end of the year, revised M3 figures should be published taking full account of negotiable instruments held by non-euro area residents. One of the important general challenges of producing and interpreting statistics is to maximise their economic content.
The revision of the monetary statistics in order to take into account purchases of negotiable instruments by non-euro area residents is a further step in this direction. The monetary statistics are among the most advanced statistics available for the euro area.