BANKING & FINANCE - Aug. 5, 1994
From Times Staff and Wire Reports
Money Supply Grows: The Federal Reserve Board reported that the measure known as M2 rose in the week ended July 25 to a seasonally adjusted $3,601.9 billion, up $5.8 billion from a revised $3,596.1 billion the week before. An even broader measure, M3, rose $11.6 billion to $4,245.1 billion from $4,233.5 billion. The narrowest measure, M1, rose $5.5 billion to $1,158.6 billion from $1,153.1 billion. M2 is cash in circulation, deposits in checking accounts and non-bank traveler’s checks 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.
