BANKING & FINANCE - April 3, 1992

Money Supply Declines: The Federal Reserve said the measure of the nation’s money supply known as M2 fell in the week ended March 23 to a seasonally adjusted $3,467.0 billion from a revised $3,477.2 billion a week earlier. An even broader measure, M3, fell to a seasonally adjusted $4,180.4 billion from a revised $4,195.3 billion. The narrowest measure, M1, fell to $938.2 billion from a revised $943.0 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts like 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.