BANKING & FINANCE - May 14, 1993

Money Supply Rises: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 rose in the week ended May 2 to a seasonally adjusted $3,482.4 billion from a revised $3,468.8 billion the week before. A broader measure, M3, rose to $4,149.8 billion from a revised $4,139.2 billion. The narrowest measure of the money supply, M1, rose to $1,055.1 billion from $1,040.7 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.