MONEY SUPPLY
TUESDAY, DECEMBER 1, 1987
DEPOSITS,
THE RATE OF CENT IN
M2
AND M3 OCTOBER, AND 3.0
REFLECTING A SLOWER GROWTH IN DEMAND INCREASE IN HONG KONG DOLLAR M1 SLOWED DOWN TO 5.4 PER OCTOBER, FROM 9.1 PER CENT IN SEPTEMBER. HONG KONG DOLLAR INCREASED BY 0.8 PER CENT AND 1.1 PER CENT RESPECTIVELY IN COMPARED WITH CORRESPONDING GROWTH RATES OF 3.2 PER CENT PER CENT IN THE PREVIOUS MONTH. DURING THE 12 MONTHS ENDING OCTOBER, HK DOLLAR M1, M2 AND M3 GREW BY 39.1 PER CENT, 27.6 PER CENT AND 24.9 PER CENT RESPECTIVELY.
TOTAL MONEY SUPPLY ON ALL DEFINITIONS INCREASED FASTER THAN THEIR HONG KONG DOLLAR COUNTERPARTS IN OCTOBER. TOTAL M1 GREW BY 6.1 PER CENT IN OCTOBER AFTER AN INCREASE OF 6.8 PER CENT IN SEPTEMBER.
TOTAL M2 AND TOTAL M3, ON THE OTHER HAND, INCREASED BY 3.0 PER CENT AND 3.5 PER CENT RESPECTIVELY IN OCTOBER, COMPARED WITH AN INCREASE OF 1.2 PER CENT IN BOTH AGGREGATES IN SEPTEMBER.
OVER THE YEAR, TOTAL M1 GREW BY 41.5 29.3 PER CENT AND TOTAL M3 BY 27.1 PER CENT.
LOANS AND ADVANCES
PER CENT, TOTAL M2 BY
ADVANCES
TOTAL OUTSTANDING LOANS AND
EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES GREW BY 2.0 PER CENT IN OCTOBER, AFTER INCREASES OF 4.9 PER CENT IN AUGUST AND 4.0 PER CENT IN SEPTEMBER. WHILE LOANS DENOMINATED IN HONG KONG DOLLAR INCREASED BY 1.3 PER CENT, THOSE DENOMINATED IN FOREIGN CURRENCIES GREW BY 2.5 PER CENT. THE CORRESPONDING INCREASES FOR THE TWO TYPES OF LOANS WERE 3.2 PER CENT AND 4.7 PER CENT IN SEPTEMBER.
LOANS TO FINANCE THE VISIBLE TRADE OF HONG KONG ROSE BY 1.9 PER CENT IN OCTOBER AFTER A DECLINE OF 0.4 PER CENT IN SEPTEMBER; OVER THE YEAR THESE LOANS GREW BY 23.0 PER CENT.
GROWTH IN OTHER LOANS FOR USE IN HONG KONG SLOWED DOWN TO 2.0 PER CENT IN OCTOBER FROM 3.6 PER CENT IN SEPTEMBER. OVER THE YEAR, THESE LOANS GREW BY 31.5 PER CENT.
LOANS FOR USE OUTSIDE HONG KONG GREW BY 3. 8 PER CENT IN
OCTOBER, BUT LOANS WHERE THE PLACE OF USE IS UNKNOWN FELL BY 4.2 CENT.
NUMBER OF REPORTING INSTITUTIONS
PER
THE
COMPANIES
THE NUMBER OF REPORTING LICENSED BANKS INCREASED BY ONE TO 154. NUMBER OF LICENSED DEPOSIT-TAKING
REMAINED UNCHANGED AT 35, WHILE THAT OF REPORTING REGISTERED DEPOSIT-TAKING COMPANIES DECREASED BY ONE TO 237.
/MONETARY STATISTICS