MONDAY, MARCH 28, 1988
MONETARY STATISTICS FOR FEBRUARY PUBLISHED
STATISTICS PUBLISHED TODAY (MONDAY) BY THE MONETARY AFFAIRS BRANCH SHOWED THAT HONG KONG DOLLAR DEPOSITS FELL IN FEBRUARY COMPARED WITH THE PREVIOUS MONTH.
THE SUBSIDENCE OF THE SPECULATIVE INFLOW INTO THE HONG KONG DOLLAR WAS PROBABLY A MAJOR FACTOR ACCOUNTING FOR THIS DECLINE.
FOREIGN CURRENCY DEPOSITS, ON THE OTHER HAND, RECORDED A SMALL INCREASE IN FEBRUARY.
LEGAL TENDER NOTES AND COINS HELD BY THE PUBLIC GREW RAPIDLY IN FEBRUARY, REFLECTING THE SURGE IN DEMAND FOR CASH DUE TO THE LUNAR NEW YEAR.
AS THE INCREASE IN CASH HOLDING OFFSET THE DECLINE IN HONG KONG DOLLAR DEPOSITS, HONG KONG DOLLAR MONEY SUPPLY ON VARIOUS DEFINITIONS STILL REGISTERED SLIGHT INCREASES IN FEBRUARY.
TOTAL LOANS AND ADVANCES EXTENDED BY DEPOSIT-TAKING INSTITUTIONS DECLINED IN FEBRUARY COMPARED WITH JANUARY, MAINLY ATTRIBUTABLE TO THE FALL IN OFFSHORE LOANS.
ON THE OTHER HAND, LOANS TO FINANCE HONG KONG'S VISIBLE TRADE AND OTHER LOANS FOR USE IN HONG KONG GREW MODERATELY IN FEBRUARY.
DEPOSITS
HONG KONG DOLLAR DEPOSITS FELL BY 0. 6 PER CENT IN FEBRUARY, FOLLOWING INCREASES OF 6.4 PER CENT AND 2.9 PER CENT IN DECEMBER 1987 AND JANUARY 1988 RESPECTIVELY.
WITHIN THESE DEPOSITS, DEMAND DEPOSITS AND SAVINGS DEPOSITS DECREASED BY 4.3 PER CENT AND 3.0 PER CENT RESPECTIVELY, WHILE TIME DEPOSITS INCREASED BY 3.9 PER CENT.
FEBRUARY
1988, TOTAL HONG KONG
DURING THE 12 MONTHS ENDING DOLLAR DEPOSITS GREW BY 24.1 PER CENT.
FOREIGN CURRENCY DEPOSITS GREW BY 0.9 FER CENT IN FEBRUARY, FOLLOWING AN INCREASE OF 2.5 PER CENT IN DECEMBER 1987 AND A FALL OF 3.1 PER CENT IN JANUARY 1988.
/AMONG THESE