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FRIDAY, APRIL 6, 1984
TOTAL MONEY SUPPLY
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TOTAL M1 FELL BY 8.1 PER CENT COMPARED WITH AN INCREASE OF 16.4 PER CENT IN JANUARY. THE FALL REFLECTED CONTRACTIONS IN BOTH THE PUBLIC'S HONG KONG DOLLAR CASH HOLDING AND FOREIGN CURRENCY DEMAND DEPOSITS.
TOTAL M2 AND TOTAL M3 GREW BY 1.5 PER CENT AND 2 PER CENT RESPECTIVELY. THEIR CORRESPONDING INCREASES IN JANUARY WERE HIGHER, AT 4.3 PER CENT AND 4 PER CENT.
IN THE THREE MONTHS TO FEBRUARY, TOTAL M1 GREW BY 9.1 PER CENT, TOTAL M2 GREW BY 9.3 PER CENT AND TOTAL M3 BY 9.6 PER CENT. THE CORRESPONDING GROWTH RATES OVER THE 12 MONTHS WERE 11,8 PER CENT, 26.8 PER CENT AND 27.8 PER CENT.
LOANS AND ADVANCES
TOTAL LOANS AND ADVANCES GREW BY 0.4 PER CENT,
FOLLOWING
AN INCREASE OF 0.2 PER CENT IN JANUARY. IN THE THREE MONTHS TO FEBRUARY, THESE FELL BY 0.1 PER CENT AND OVER THE 12 MONTHS, A RISE OF 16.4 PER CENT WAS RECORDED.
LOANS TO FINANCE VISIBLE TRADE OF HONG KONG ROSE
BY 0.3 PER CENT AFTER A CONTRACTION OF 1 PER CENT IN JANUARY. IN THE THREE MONTHS TO FEBRUARY, THE GROWTH WAS 1.3 PER CENT AND OVER THE 12 MONTHS, THE GROWTH WAS 11.2 PER CENT.
OTHER LOANS FOR USE IN HONG KONG ROSE BY 0.6 PER CENT, SLIGHTLY FASTER THAN THE 0.1 PER CENT RECORDED IN JANUARY.
IN THE THREE MONTHS TO FEBRUARY, THESE FELL BY 1.7 PER CENT AND OVER THE 12 MONTHS, THESE ROSE BY 9 PER CENT,
FOREIGN CURRENCY POSITION
BOTH THE SPOT FOREIGN CURRENCY ASSETS AND LIABILITIES OF THE MONETARY SECTOR INCREASED IN FEBRUARY.
BUT AS THERE WAS A LARGER INCREASE IN SPOT FOREIGN CURRENCY ASSETS, THE NET FOREIGN CURRENCY POSITION OF THE MONETARY SECTOR SHOWED A SUBSTANTIAL CHANGE DURING THE MONTH FROM A NET LIABILITY OF $12.5 BILLION AT THE END OF JANUARY TO $4.1 BILLION AT THE END OF FEBRUARY.
BANKS AND DEPOSIT-TAKING COMPANIES HAD NET SPOT FOREIGN CURRENCY LIABILITIES OF $0.6 BILLION AND $3.5 BILLION RESPECTIVELY.
STATISTICS COLLECTED (ON THE BASIS OF SLIGHTLY DIFFERENT DEFINITIONS) BY THE COMMISSIONER OF BANKING AND DEPOSIT-TAKING COMPANIES SHOW A SIMILAR REDUCTION IN NET SPOT FOREIGN CURRENCY LIABILITIES FROM $11.9 BILLION AT THE END OF JANUARY TO $3.5 BILLION AT THE END OF FEBRUARY.
THE MONETARY SECTOR'S FORWARD FOREIGN CURRENCY POSITION SHOWS NET ASSETS OF $34.4 BON.
/LIQUIDITY RATIOS