2 -
TUESDAY, MARCH 6, 1984
#
TOTAL MONEY SUPPLY
TOTAL M1 GREW BY 16.4 PER CENT, MUCH FASTER THAN THE 1.9 PER CENT INCREASE IN DECEMBER. TOTAL M2 ROSE BY 4.3 PER CENT AND TOTAL M3 ROSE BY 4.0 PER CENT, FOLLOWING THE RESPECTIVE INCREASES IN DECEMBER OF 3.1 PER CENT AND 3.3 PER CENT. IN THE THREE MONTHS TO JANUARY TOTAL M1 ROSE BY 18.6 PER CENT, TOTAL M2 BY 8.8 PER CENT AND TOTAL M3 BY 10.0 PER CENT. OVER THE TWELVE MONTHS, THE CORRESPONDING GROWTH RATES WERE 24.3 PER CENT, 25.0 PER CENT AND 25.1 PER CENT.
LOANS AND ADVANCES
LOANS TO FINANCE HONG KONG'S VISIBLE TRADE FELL BY 1.0 PER CENT IN JANUARY, FOLLOWING AN INCREASE OF 2.1 PER CENT IN DECEMBER. IN THE THREE MONTHS TO JANUARY, LOANS TO FINANCE VISIBLE TRADE GREW BY 0.1 PER CENT AND OVER THE TWELVE MONTHS AN INCREASE OF 10.6 PER CENT WAS RECORDED. LOANS IN THE FORM OF BANK ACCEPTANCES AND BILLS OF EXCHANGE TO FINANCE EXPORTS FROM HONG KONG, HOWEVER, GREW BY 10.9 PER CENT OR $1.0 BILLION IN JANUARY. OTHER LOANS FOR USE IN HONG KONG ROSE BY 0.1 PER CENT, AGAINST A DECLINE OF 2.3 PER CENT IN DECEMBER. IN THE THREE MONTHS TO JANUARY THESE LOANS FELL BY 1.4 PER CENT AND OVER THE TWELVE MONTHS THEY ROSE BY 9.7 PER CENT.
FOREIGN CURRENCY POSITION
POSSIBLY REFLECTING A CONTINUING DECLINE IN SWAP FOREIGN CURRENCY DEPOSITS, THE NET SPOT FOREIGN CURRENCY LIABILITIES OF THE MONETARY SECTOR FELL FURTHER TO $12.5 BILLION AT THE END OF JANUARY FROM $14.5 BILLION AT THE END OF DECEMBER. BANKS AND DEPOSIT-TAKING COMPANIES RECORDED NET SPOT FOREIGN CURRENCY LIABILITIES OF $9.3 BILLION AND $3.2 BILLION RESPECTIVELY. STATISTICS COLLECTED (ON THE BASIS OF SLIGHTLY DIFFERENT DEFINITIONS) BY THE COMMISSIONER OF BANKING AND DEPOSIT-TAKING COMPANIES SHOWED THAT AT THE END OF JANUARY, THE MONETARY SECTOR HAD NET SPOT FOREIGN CURRENCY LIABILITIES OF $11.9 BILL ION WHICH WAS MORE THAN COVERED BY NET FORWARD FOREIGN CURRENCY ASSETS OF $38.7 BILLION,
LIQUIDITY RATIOS
THE AVERAGE LIQUIDITY RATIO (AS DEFINED IN S. 18 OF THE BANKING ORDINANCE) FOR ALL BANKS FELL TO 49.6 PER CENT FROM 51.1 PER CENT IN DECEMBER. THE AVERAGE LIQUIDITY RATIO (AS DEFINED IN S. 24A OF THE DEPOSIT-TAKING COMPANIES ORDINANCE) FOR ALL DEPOSIT-TAKING COMPANIES FELL TO 57.6 PER CENT FROM 60.1 PER CENT IN DECEMBER.
NUMBER OF REPORTING INSTITUTIONS
THE NUMBER OF LICENSED BANKS IN OPERATION WAS UNCHANGED AT 134. THE NUMBER OF LICENSED DEPOSIT-TAKING COMPANIES ALSO REMAINED UNCHANGED AT 30.
THE NUMBER OF REPORTING REGISTERED DEPOSIT-TAKING COMPANIES, HOWEVER, FELL BY TWO TO 317 BECAUSE ONE DEPOSIT-TAKING COMPANY REGISTRATION WAS REVOKED ON REQUEST BY THE COMPANY ITSELF, WHILE ANOTHER ONE WAS SUSPENDED BY THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES.
/3