Which of the following is NOT included in the measure of the volume of money supply held by the public…

In standard monetary accounting, the money supply (such as M1) is defined as currency held by the public plus net demand deposits held by the public: - Cash holdings of commercial banks (vault cash, ) are excluded from the measure of currency with the public because money supply only counts liquid money balances held by the non-bank public. - Household cash-holdings are directly part of currency with the public, while commercial banks' deposits with the Central Bank and the cash-reserve ratio govern central bank reserve requirements and credit creation. Therefore, ('Bank’s cash Holdings') is the correct answer.