BANKING & FINANCE - June 11, 1993

Money Supply Mixed: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 rose $4.2 billion in the week ended May 31 to a seasonally adjusted $3,510.3 billion from a revised $3,506.1 billion the week before. A broader measure, M3, fell $3.5 billion to $4,164.6 billion from $4,168.1 billion. The narrowest measure, M1, rose to $1,074.9 billion, up $9.6 billion from $1,065.3 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.