A deposit with an agreed maturity is an account or instrument that remains outstanding until a predetermined date. Access before that date may be unavailable or may result in a financial charge. The category can cover ordinary fixed-term deposits as well as certain retail certificates of deposit that cannot be traded. For monetary analysis, instruments maturing within two years are normally counted in M2 and M3, whereas instruments with longer terms are recorded as longer-duration liabilities outside the monetary aggregates, subject to the classification rules in use.
Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.