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FRIDAY, NOVEMBER 29, 1985
IN THE THREE MONTHS TO OCTOBER, THE GROWTH OF TOTAL DEPOSITS WITH BANKS, AT 5.4 PER CENT, WAS MUCH HIGHER THAN THAT WITH DEPOSIT- TAKING COMPANIES, AT 1.6 PER CENT OVER 12 MONTHS THE GROWTH OF DEPOSITS WITH BANKS WAS 27.6 PER CENT, AND THE GROWTH OF DEPOSITS WITH DEPOSIT-TAKING COMPANIES 10.4 PER CENT.
HONG KONG DOLLAR MONEY SUPPLY
HKM1 THE NARROW DEFINITION OF HONG KONG DOLLAR MONEY SUPPLY, FELL BY 0.5 PER CENT IN OCTOBER DUE TO REDUCED PUBLIC HOLDING OF NOTES AND COINS. HK$M2 AND HK$M3, THE BROADER DEFINITIONS OF MONEY SUPPLY, ROSE BY 1.4 PER CENT AND 1.2 PER CENT RESPECTIVELY.
THE INCREASES IN SEPTEMBER WERE 2.7 PER CENT FOR HK$M1 0.3 PER CENT FOR HK$M2 AND 0.4 PER CENT FOR HK$M3. IN THE THREE MONTHS TO OCTOBER, HK M1 GREW BY 4.4 PER CENT, HK$M2 BY 2.5 PER CENT AND HKM BY 2.3 PER CENT OVER THE 12 MONTHS THE CORRESPONDING INCREASES WERE 34.1 PER CENT, 22.4 PER CENT AND 18.5 PER CENT.
AFTER ADJUSTING FOR SWAP DEPOSITS, HK$M2 AND HK$M3 GREW AT THE SLIGHTLY LOWER RATES OF 1.1 PER CENT AND 1.0 PER CENT RESPECTIVELY IN OCTOBER. IN THE THREE MONTHS TO OCTOBER, THE CORRESPONDING GROWTH RATES WERE 1.7 PER CENT AND 1.6 PER CENT,
TOTAL MONEY SUPPLY
TOTAL M1 FELL BY 2.1 PER CENT IN OCTOBER, AFTER HAVING INCREASED BY 3.5 PER CENT IN SEPTEMBER. TOTAL M2 AND TOTAL M3 GREW BY 2.2 PER CENT AND 1.8 PER CENT RESPECTIVELY THE CORRESPONDING INCREASES IN SEPTEMBER WERE 1.2 PER CENT AND 1.1 PER CENT. IN THE THREE MONTHS TO OCTOBER, TOTAL M1 GREW 3Y 4.1 PER CENT, TOTAL M2 BY 5.4 PER CENT AND TOTAL M3 BY 4.7 PER CENT: OVER THE 12 MONTHS, THE CORRESPONDING GROWTH RATES WERE 33.3 PER CENT, 27.4 PER CENT AND 24.2 PER CENT,
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LOANS AND ADVANCES
LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES GREW BY 0.7 PER CENT, FOLLOWING AN INCREASE OF 0.2 PER CENT IN SEPTEMBER. IN THE THREE MONTHS TO OCTOBER, THESE LOANS GREW BY A MODEST 1.0 PER CENT AND OVER 12 MONTHS BY 5.5 PER CENT. LOANS DENOMINATED IN HONG KONG DOLLAR FELL BY 0.7 PER CENT WHILE LOANS DENOMINATED IN FOREIGN CURRENCIES ROSE BY 2.1 PER CENT. IN THE THREE MONTHS TO OCTOBER, THE CORRESPONDING GROWTH RATES WERE 0.3 PER CENT AND 1.7 PER CENT.
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