BANKING & FINANCE - June 26, 1992

Money Supply Declines: The Federal Reserve said the measure of money supply known as M2 fell in the week ended June 15 to a seasonally adjusted $3,464.9 billion from a revised $3,467.5 billion the week before. A broader measure, M3, fell to a seasonally adjusted $4,169.8 billion from a revised $4,172.4 billion. The narrowest measure, M1, fell to $953.1 billion from a revised $956.0 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. M2 is M1 plus accounts such as savings deposits and mutual funds. M3 is M2 plus less-liquid accounts, such as certificates of deposit in minimum denominations of $100,000.