BANKING & FINANCE - May 7, 1993
From Times Staff and Wire Reports
Fed Says Money Supply Rose: The Federal Reserve Board reported that the narrowest measure of the nation’s money supply, known as M1, rose in the week ended April 29 to a seasonally adjusted $1,040 billion, up $1.4 billion from $1,038.6 billion the week before. A broader measure, M2, rose $1.5 billion to $3,469.9 billion from a revised $3,468.4 billion. An even broader measure, M3, rose to $4,138.8 billion, up $10.2 billion from $4,128.6 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.
