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BRIEFLY

Banking & Finance

August 20, 1993|From Times Staff and Wire Reports

Money Supply Declines: The Federal Reserve Board reported that the measure of the nation's money supply known as M2 fell in the week ended Aug. 9 to a seasonally adjusted $3,515.1 billion, down $5.1 billion from a revised $3,520.2 billion the week before. An even broader measure, M3, fell $2.6 billion to $4,154.9 billion, from $4,157.5 billion. The narrowest measure of the money supply, M1, fell $100 million to $1,091.1 billion, from $1,091.2 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.

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