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BANKING & FINANCE - May 6, 1994

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From Times Staff and Wire Reports

Money Supply Declines: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 fell in the week ended April 25 to a seasonally adjusted $3,585.0 billion, down $6.3 billion from a revised $3,591.3 billion the week before. An even broader measure, M3, fell $12.5 billion to a seasonally adjusted $4,214.9 billion from a revised $4,227.4 billion. The narrowest measure, M1, fell to $1,136.3, down $1.3 billion from $1,137.6 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank traveler’s 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.

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