OTHER NEWS - Jan. 1, 1993

Money Supply Declines: The two broadest measures of the nation’s money supply declined in the week ended Dec. 21, the Federal Reserve Board reported. The measure known as M2 fell to a seasonally adjusted $3,498.6 billion from a revised $3,506.4 billion the previous week. A broader measure, M3, fell to a seasonally adjusted $4,173.3 billion from a revised $4,186.9 billion. The narrowest measure of the money supply, M1, fell to a seasonally adjusted $1,019.6 billion from $1,021.5 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers’ checks. M2 represents 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.