BANKING & FINANCE - Dec. 4, 1992

Money Supply Declines: The Federal Reserve Board said the measure of the nation’s money supply known as M2 fell in the week ended Nov. 23 to a seasonally adjusted $3,496.7 billion, down $15.7 billion from a revised $3,512.4 billion the week before. An even broader measure, M3, fell $5.7 billion to a seasonally adjusted $4,187.3 billion from a revised $4,193.0 billion. The narrowest measure, M1, fell $8.6 billion to a seasonally adjusted $1,014.6 billion from $1,023.2 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus such accounts 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.