27 September 2001, 12:08  Euro area adjusted Aug M3 up 6.7 pct yr-on-yr vs 6.4 in July

FRANKFURT (AFX) - Euro area M3 grew 6.7 pct year-on-year in August, down from a year-on-year growth rate of 6.4 pct in July. The three month moving average of M3 year-on-year growth rates was 6.4 pct in the June-August period compared with 5.9 pct in May-July. The figures are adjusted for seasonal and end-of-month calendar effects. The figures exclude non-resident holdings of money market fund shares and units, but include non-resident holdings of money market paper and short-term debt securities. The ECB plans to publish a revised series excluding these holdings towards the end of the year

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