The narrow definition of the nation’s basic...

The narrow definition of the nation’s basic money supply known as M1 fell $2 billion to $780 billion in the week ended Aug. 15, the Federal Reserve said. Of the broader monetary aggregates, M2 fell by $700 million to $3,027.5 billion and M3 fell $2.2 billion to $3,823.4 billion. M1 is made up of cash and checking accounts. M2 includes M1, plus passbook savings, money market accounts and certain other short-term assets. M3 includes M2, plus large time deposits, repurchase agreements longer than one day at banks and thrifts and institutions’ money market funds.