BANKING & FINANCE - May 27, 1994

Money Supply Mixed: The Federal Reserve Board said the measure known as M2 rose to a seasonally adjusted $3,590.8 billion in the week ended May 16, from a revised $3,587.9 billion the previous week. An even broader measure, M3, fell to a seasonally adjusted $4,214.3 billion from a revised $4,214.4 billion. The narrowest measure of the money supply, M1, rose to a seasonally adjusted $1,143.5 billion from $1,142.5 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.