Economy · Money market funds and savings

Money Market Fund Assets as a Share of M2

Money market fund assets (Financial Accounts, quarterly) as a percent of the M2 money stock. A comparison of size, not a share of M2 itself: M2 counts only retail money funds, and these assets include institutional funds.

Money fund assets, % of M2: 37.09% (Q2 2026).
A year earlier: 34.36% (Q2 2025), a change of +2.73 pts.
Highest on record here: 48.05% (Q4 2008); lowest: 0.00% (Q1 1959).

Year	Average	Year close
1959	0.00%	0.00%
1960	0.00%	0.00%
1961	0.00%	0.00%
1962	0.00%	0.00%
1963	0.00%	0.00%
1964	0.00%	0.00%
1965	0.00%	0.00%
1966	0.00%	0.00%
1967	0.00%	0.00%
1968	0.00%	0.00%
1969	0.00%	0.00%
1970	0.00%	0.00%

Source: FRED MMMFFAQ027S (Money Market Funds; Total Financial Assets, Level); FRED M2SL (M2). Federal Reserve Bank of St. Louis.

Gray bands mark U.S. recessions as dated by the NBER (FRED USREC).

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