THURSDAY, JULY 2, 1987
MONETARY STATISTICS FOR MAY 1987 PUBLISHED
*
THE SLOWDOWN IN GROWTH IN HONG KONG DOLLAR DEPOSITS WHICH BEGAN IN APRIL CONTINUED IN MAY, ACCORDING TO STATISTICS PUBLISHED BY THE MONETARY AFFAIRS BRANCH TODAY (THURSDAY).
FOREIGN CURRENCY DEPOSITS ALSO GREW SLOWER IN MAY THAN IN PREVIOUS MONTHS.
GROWTH IN HONG KONG DOLLAR MONEY SUPPLY SLOWED DOWN IN MAY. HK$M2 AND HK$M3, THE BROADER DEFINITIONS OF THE MONEY SUPPLY, BOTH REGISTERED A SMALL INCREASE WHILE HK$M1 SHOWED A SLIGHT DECLINE.
TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT--TAKING COMPANIES CONTINUED TO INCREASE. GROWTH IN OTHER LOANS FOR Usi IN HONG KONG WAS SLOWER IN MAY AFTER THE SUBSTANTIAL INCREASE IN APRIL. LOANS TO FINANCE HONG KONG'S VISIBLE TRADE, ON THE OTHER
HAND, GRBW FASTER IN MAY.
DEPOSITS
IN MAY, HONG KONG DOLLAR DEMAND DEPOSITS FELL BY 4. 4 PER CENT AND SAVINGS DEPOSITS ALSO DECREASED BY 1.8 PER CENT. TIME DEPOSITS, HOWEVER, INCREASED BY 3.2 PER CENT. AS A RESULT, TOTAL HONG KONG DOLLAR DEPOSITS ROSE BY 0.2 PER CENT IN MAY AFTER INCREASES OF 2.4 PER CENT IN MARCH AND 0.7 PER CENT IN APRIL. OVER THE YEAR (I.B. FOR THE TWELVE MONTHS ENDING MAY), TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 20.4 PER CENT.
OVER THE
YEAR,
FOREIGN CURRENCY DEPOSITS GREW SLOWER IN MAY, BY 1.8 PER CENT AFTER THE RAPID INCREASE OF 3.7 PER CENT IN APRIL. THESE DEPOSITS GREW BY 38.3 PER CENT.
FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 4.2 PER CENT IN MAY. ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 0.6 PER CENT IN MAY WHILE ADJUSTED FOREIGN CURRENCY DEPOSITS GREW BY 1.6 PER CENT.
DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 1.1 PER CENT IN MAY WHILE THOSE WITH DEPOSIT-TAKING COMPANIES INCREASED BY 1 PER CENT. FOR THE THREE MONTHS ENDING MAY, THE FORMER GREW BY 6.7 PER CENT WHILE THE LATTER BY 1.5 PER CENT.
/MONEY SUPPLY