MONDAY, SEPTEMBER 5, 1983
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FOREIGN CURRENCY DEPOSITS GREW BY 3.4 PER CENT. FOLLOWING A RISE OF 4.5 PER CENT IN JUNE. AFTER ADJUSTMENT FOR THE DEPRECIATION OF THE HONG KONG DOLLAR OVER THE MONTH, THE INCREASE IN JULY WAS ABOUT TWO PER CENT,
IN THE THREE MONTHS TO JULY, THE GROWTH RATES OF HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS WERE 1.9 PER CENT AND 14.6 PER CENT RESPECTIVELY, AND OVER TWELVE MONTHS 4.4 PER CENT AND 67.0 PER CENT. THIS SPLIT IS DISTORTED BY SWAP TRANSACTIONS, AS EXPLAINED ABOVE.
THERE WAS A FURTHER REDUCTION IN DEPOSITS HELD WITH REGISTERED DEPOSIT-TAKING COMPANIES, AS THREE SUCH COMPANIES TOOK UP THEIR NEW LICENSED STATUS IN JULY AND THE REGISTRATIONS OF A FURTHER FOUR COMPANIES WERE REVOKED BY THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES AT THEIR OWN REQUEST.
LOANS AND ADVANCES
TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT- TAKING COMPANIES ROSE BY 1.4 PER CENT IN JULY, FOLLOWING AN INCREASE OF 0.7 PER CENT IN JUNE.
IN THE THREE MONTHS TO JULY, THEY ROSE BY 4.6 PER CENT AND OVER TWELVE MONTHS BY 23.2 PER CENT.
LOANS TO FINANCE HONG KONG'S VISIBLE TRADE FELL BY 1.0 PER CENT, FOLLOWING A FRACTIONAL FALL IN JUNE, BUT OVER THREE MONTHS THEY RECORDED AN INCREASE OF 3.4 PER CENT.
OTHER LOANS FOR USE IN HONG KONG ROSE BY 1.3 PER CENT IN JULY AFTER A RISE OF 1.1 PER CENT IN JUNE. OVER THREE MONTHS THE GROWTH RATE WAS 3.7 PER CENT.
FOREIGN CURRENCY POSITIONS
THE NET SPOT FOREIGN CURRENCY POSITION OF THE MONETARY SECTOR AT THE END OF JULY WAS A LIABILITY OF $25.4 BILLION, COMPARED WITH ONE OF $26.8 BILLION AT THE END OF JUNE.
BANKS AND DEPOSIT-TAKING COMPANIES HAD NET FOREIGN CURRENCY LIABILITIES OF $17.2 BILLION AND $8.2 BILLION RESPECTIVELY.
STATISTICS COLLECTED (ON THE BASIS OF SLIGHTLY DIFFERENT DEFINITIONS) BY THE COMMISSIONER OF BANKING AND DEPOSIT-TAKING COMPANIES SHOW THAT THE MONETARY SECTOR HAD, AT THE END OF JULY, NET SPOT FOREIGN CURRENCY LIABILITIES OF $26.3 BILLION, WHICH WERE MORE THAN COVERED BY NET FORWARD FOREIGN CURRENCY ASSETS OF $47.4 BILLION.
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LIQUIDITY RATIOS