MONEY SUPPLY
2
FRIDAY, AUGUST 28, 1987
REFLECTING THE SLOWDOWN IN GROWTH IN DEMAND DEPOSITS, HONG KONG DOLLAR M1 GREW BY 0.8 PER CENT IN JULY AFTER AN INCREASE OF 4.3 PER CENT IN JUNE.
HK$M2 AND HK$M3 INCREASED BY 1.8 PER CENT AND 2.3 PER CENT RESPECTIVELY IN JULY COMPARED WITH GROWTH RATES OF 2.1 PER CENT AND 2.2 PER CENT IN THE PREVIOUS MONTH.
OVER THE YEAR, THE GROWTH RATES IN HK$M1, M2 AND M3 PER CENT, 29 PER CENT AND 24.1 PER CENT RESPECTIVELY.
WERE 35.7
TOTAL MONEY SUPPLY M1 FELL BY 2.5 PER CENT IN JULY AFTER AN INCREASE OF 7.4 PER CENT IN JUNE. TOTAL M2 GREW BY 2.2 PER CENT AFTER AN INCREASE OF 0.9 PER CENT IN JUNE, WHILE TOTAL M3 GREW BY 2.4 PER CENT IN JULY COMPARED WITH AN INCREASE OF 0.8 PER CENT IN JUNE.
OVER THE YEAR, TOTAL MI GREW BY 34.8 PER CENT, TOTAL M2 DY 33.7 PER CENT AND TOTAL M3 BY 29.4 PER CENT.
LOANS AND ADVANCES
TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TARING COMPANIES GREW FASTER IN JULY, BY 5.8 PER CENT, AFTER INCREASES OF 2.8 PER CENT IN MAY AND 5.1 PER CENT IN JUNE.
THE RAPID INCREASE IN OUTSTANDING LOANS IN JULY WAS DUE PARTLY TO THE CONTINUED INCREASE IN LOANA FOR USE OUTSIDE HONG KONG AND PARTLY TO A MORE RAPID INCREASE IN LOANS FOR USE IN HONG KONG.
WITHIN THE TOTAL, LOANS DENOMINATED IN HONG KONG DOLLARS GREW BY 2.3 PER CENT IN JULY WHILE THOSE DENOMINATED IN FOREIGN CURRENCIRA INCREASED BY 9 PER CENT.
LOANS TO FINANCE THE VISIBLE TRADE OF HONG KONG ROSE BY 0.4 PER CENT AFTER THE RAPID INCREASE OF 5.7 PER CENT IN JUNE; OVER THE YFAR THESE LOANS GREW BY 21.7 PER CENT, GROWTH IN OTHER LOANS FOR USR IN HONG KONG ACCELERATED IN JULY, RISING BY 4.1 PER CENT AFTER INCREASES OF 1.8 PER CENT IN MAY AND 0.6 PER CENT IN JUNE.
OVER THE YEAR, THESE LOANS GREW BY 28. 5 PER CENT. LOANS FOR USE OUTSIDE HONG KONG GREW BY 9.6 PER CENT IN JULY AFTER AN INCREASE OF 13.8 PER CENT IN JUNE.
NUMBER OF REPORTING INSTITUTIONS
THE NUMBER OF REPORTING LICENSED BANKS INCREASED 153. THE NUMBER OF REPORTING LICENSED DEPOSIT-TAKING REMAINED UNCHANGED AT 35 WHILE THE NUMBER OF REPORTING DEPOSIT-TAKING COMPANIES DECREASED BY FOUR TO 241.
BY TWO TO
COMPANIES REGISTERED
/MONETARY STATISTICS
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