BANKING & FINANCE - July 24, 1992

Money Supply Measures Mixed: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 fell in the week ended July 13 to a seasonally adjusted $3,453.4 billion, down by $3.5 billion from the week before. An even broader measure, M3, rose to a seasonally adjusted $4,155.6 billion, up $19.9 billion. The narrowest measure, M1, fell to a seasonally adjusted $956.5 billion, off $3.6 billion from the week before. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts like savings deposits and money-market mutual funds. M3 is M2 plus less-liquid accounts, such as certificates of deposit.