BANKING & FINANCE - May 1, 1992

Mixed Signals on Money Supply: The Federal Reserve Board reported that the measure of the nation’s basic money supply known as M2 rose in the week ended April 20 to a seasonally adjusted $3,471.3 billion from a revised $3,469.7 billion the week before. A broader measure, M3, fell to a seasonally adjusted $4,178.8 billion from $4,163.7 billion. The narrowest measure, M1, rose to a seasonally adjusted $945.7 billion from a revised $938.8 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and money market mutual funds. M3 is M2 plus less-liquid accounts, such as certificates of deposit in minimum denominations of $100,000.