MONEY SUPPLY
2
THURSDAY, JULY 2, 1987
HONG KONG DOLLAR M1 FELL BY 0.9 PER CENT IN MAY, BEING INFLUENCED BY THE FALL IN DEMAND DEPOSITS. HK$M2 AND HKSM3 RECORDED INCREASES OF 0.6 PER CENT AND 0.5 PFR CENT RESPECTIVELY. THESE GROWTH RATES WERE LOWER THAN THE CORRESPONDING GROWTH RATES OF 2.3 PER CENT AND 2 PER CENT IN MARCH, AND THE 0.9 PER CENT AND 0.8 PER CENT IN APRIL. OVER THE YEAR, HK$M1 GREW BY 29.5 PER CENT WHILE HK$M2 AND HK$M3 GREW BY 27.5 PER CENT AND 21.4 PER CENT RESPECTIVELY
TOTAL MONEY SUPPLY M1 FELL BY 0.8 PER CENT IN MAY AFTER AN INCREASE OF 3.8 PER CENT IN APRIL. TOTAL M2 AND TOTAL M3, ON THR OTHER HAND, BOTH GREW BY 1.3 PER CENT IN MAY AFTER AN INCREASE OF 2.4 PER CENT AND 2.3 PER CENT RESPECTIVELY IN APRIL. FOR THE THREE MONTHS ENDING MAY, TOTAL M1 GREW BY 2.6 PER CENT WHILE TOTAL M2 AND TOTAL INCREASED BY 6.7 PER CENT AND 6.1 PER CENT RESPECTIVELY.
LOANS AND ADVANCES
M3
TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES CONTINUED TO GROW IN MAY, BY 2.8 PER CENT AFTER INCREASES OF 4.1 PER CENT IN MARCH AND 2.3 PER CENT IN APRIL. OVER THE YEAR, THESE LOANS INCREASED BY 23.1 PER CENT. OF THE TOTAL, LOANS DENOMINATED IN HONG KONG DOLLARS GREW BY 2.2 PER CENT IN MAY WHILE THOSE DENOMINATED IN FOREIGN CURRENCIES INCREASED BY 3.3 PER CENT.
WITHIN THE TOTAL, LOANS TO FINANCE THE VISIBLE TRADE OF HONG KONG ROSE BY 1.7 PER CENT AFTER THE SLOW INCREASE OF 0.4 PER CENT IN APRIL; OVER THE YEAR THESE LOANS GREW BY 21.4 PER CENT. GROWTH IN OTHER LOANS FOR USE IN HONG KONG SLOWED DOWN IN MAY, INCREASING BY 1.8 PER CENT AFTER INCREASES OF 2.8 PER CENT IN MARCH AND 3.2 PER CENT IN APRIL. OVER THE YEAR, THESE LOANS GREW BY 26.3 PER CENT.
NUMBER OF REPORTING INSTITUTIONS
THE NUMBER OF REPORTING LICENSED BANKS INCREASED BY ONE TO 151 WHILE THE NUMBER OF REPORTING LICENSED AND REGISTERED DEPOSIT-TAKING COMPANIES REMAINED UNCHANGED AT 35 AND 248 RESPECTIVELY.
/MONETARY STATISTICS