MONETARY STATISTICS FOR APRIL
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TUESDAY, JUNE 3, 1986
MONETARY STATISTICS FOR APRIL ARE DISTORTED BY THE SUBSCRIPTION FOR SHARES OF CATHAY PACIFIC. ACCORDING TO STATISTICS PUBLISHED TODAY (TUESDAY) BY THE MONETARY AFFAIRS BRANCH, DEMAND DEPOSITS ON THE LAST BUSINESS DAY OF APRIL WERE MORE THAN TWO TIMES HIGHER THAN A MONTH EARLIER. SAVINGS DEPOSITS FELL, BUT TIME DEPOSITS WITH BANKS CONTINUED TO GROW STEAD ILY.
HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS INCREASED RAPIDLY BECAUSE OF THE RISE IN DEMAND DEPOSITS. TOTAL MONEY SUPPLY ALSO INCREASED, BUT AT LOWER RATES THAN THE CORRESPOND ING HONG KONG DOLLAR COMPONENTS.
LOANS FOR USE IN HONG KONG ROSE RAPIDLY, REFLECTING THE LARGE AMOUNTS LENT TO APPLICANTS FOR CATHAY PACIFIC SHARES. LOANS TO FINANCE THE VISIBLE TRADE OF HONG KONG RECORDED A HIGHER GROWTH RATE THAN IN PREVIOUS MONTHS.
DEPOSITS
IN APRIL, HONG KONG DOLLAR DEMAND DEPOSITS INCREASED BY 220.6 PER CENT, SAVINGS DEPOSITS FELL BY 4.2 PER CENT WHILE TIME DEPOSITS WITH BANKS GREW BY 1.9 PER CENT, TOTAL HONG KONG DOLLAR DEPOSITS WITH ALL DEPOSIT-TAKING INSTITUTIONS INCREASED BY 21.8 PER CENT IN APRIL.
FOREIGN CURRENCY DEPOSITS ALSO INCREASED, BY 2,6 PER CENT, FOLLOWING A DECREASE OF 0.1 PER CENT IN MARCH. IN THE THREE MONTH♣ TO APRIL FOREIGN CURRENCY DEPOSITS GREW BY 6.8 PER CENT AND OVER THE 12 MONTHS BY 38.5 PER CENT.
FOREIGN CURRENCY SWAP DEPOSITS INCREASED MORE RAPIDLY THIS MONTH, BY 10,8 PER CENT, AFTER AN INCREASE.OF 2.4.PER CENT IN MARCH. ADJUSTED TO INCLUDE THESE DEPOSITS, HO KONG DOLLAR DEPOSITS INCREASED BY 20.6 PER CENT IN APRÍL WHILE FOREIGN CURRENCY DEPOSITS INCREASED BY 1.7 PER CENT.
DEPOSITS (ALL CURRENCIES) WITH BANKS ROSE BY 14.8 PER CENT IN APRIL, FOLLOWING A DECREASE OF 0.1 PER CENT IN MARCH- TOTAL DEPOSITS WITH DEPOSIT-TAKING COMPANIES FELL BY 4.4 PER CENT AFTER A DECREASE OF 2.5 PER CENT IN MARCH.
IN THE THREE MONTHS TO APRIL, TOTAL DEPOSITS WITH BANKS GREW BY 17.5 PER CENT, WHILE DEPOSITS WITH DEPOSIT-TAK FNG COMPANIES FELL BY 5.6 PER CENT OVER THE 12 MONTHS, THE RESPECTIVE GROWTH RATES WERE 40.9 PER CENT AND 8.9 ̊ PERCENT.
/BONG LONG
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