BANKING & FINANCE - Nov. 12, 1994

U.S. Money Supply Declines: The Federal Reserve Board reported that the measure known as M2 fell $100 million in the week ended Oct. 31 to a seasonally adjusted $3,584.4 billion from a revised $3,594.3 billion the week before. An even broader measure, M3, fell to $4,261.8 billion, down $1.8 billion from $4,263.6 billion. The narrowest measure, M1, fell $5.3 billion to a seasonally adjusted $1,144.5 billion from $1,149.8 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.