OTHER NEWS - July 31, 1992

Money Supply Mixed: The Federal Reserve Board reported that the measure of the nation’s money supply known as M2 fell in the week ended July 20, to a seasonally adjusted $3,452.0 billion, down $2.4 billion from the previous week. A broader measure, M3, fell $2.5 billion to a seasonally adjusted $4,154.1 billion. The narrowest measure, M1, rose to a seasonally adjusted $961.6 billion, up $4.7 billion from the week before. 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.