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SATURDAY, DECEMBER 31, 1988
MONETARY STATISTICS FOR NOVEMBER PUBLISHED
BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS RECORDED CONSIDERABLE INCREASES IN NOVEMBER COMPARED WITH OCTOBER, ACCORDING TO STATISTICS PUBLISHED TODAY (SATURDAY) BY THE MONETARY AFFAIRS BRANCH.
THE BROADER DEFINITIONS OF HONG KONG DOLLAR MONEY SUPPLY, HK$M2 AND HK$M3, GREW AT THE SAME RATES AS IN THE PREVIOUS MONTH. HK$M1, ON THE OTHER HAND, INCREASED LESS RAPIDLY IN NOVEMBER THAN IN OCTOBER.
TOTAL LOANS AND ADVANCES EXTENDED BY AUTHORIZED INSTITUTIONS CONTINUED TO GROW STEADILY IN NOVEMBER. ALL MAJOR CATEGORIES OF LOANS INCLUDING THOSE TO FINANCE VISIBLE TRADE, THOSE FOR USE IN HONG KONG AND THOSE FOR USE OFFSHORE REGISTERED INCREASES DURING THE MONTH.
THE ACCOMPANYING TABLE SETS OUT SUMMARY FIGURES FOR NOVEMBER 1988 AND COMPARISONS WITH EARLIER MONTHS.
DEPOSITS
HONG KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS ROSE BY 4.4 PER CENT IN NOVEMBER FOLLOWING INCREASES OF 0.4 PER CENT AND 4.5 PER CENT IN SEPTEMBER AND OCTOBER RESPECTIVELY. OF THESE DEPOSITS, DEMAND, SAVINGS, AND TIME DEPOSITS INCREASED BY 1.1 PER CENT, 4.9 PER CENT AND 5 PER CENT RESPECTIVELY. DURING THE 12 MONTHS ENDING NOVEMBER 1988, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 19.2 PER CENT.
FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS GREW BY 5.7 PER CENT IN NOVEMBER FOLLOWING INCREASES OF 2.2 PER CENT AND 1.8 PER CENT IN SEPTEMBER AND OCTOBER RESPECTIVELY. OF THESE DEPOSITS, U.S. DOLLAR DEPOSITS ROSE BY 5.4 PER CENT WHILE NON-U.S. DOLLAR DEPOSITS GREW BY 6 PER CENT. OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS ROSE BY 29 PER CENT.
FOREIGN CURRENCY SWAP DEPOSITS DECLINED SLIGHTLY BY 0.4 PER CENT IN NOVEMBER, AFTER INCREASES OF 3.3 PER CENT AND 3.5 PER CENT IN SEPTEMBER AND OCTOBER RESPECTIVELY. ADJUSTED ΤΟ INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 3.9 PER CENT IN NOVEMBER AND BY 21.6 PER CENT OVER THE YEAR.
ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, INCREASED BY 6.2 PER CENT IN NOVEMBER AND BY 27.7 PER CENT OVER THE YEAR.
DEPOSITS OF ALL CURRENCIES WITH BANKS GREW BY $ PER CENT IN NOVEMBER WHILE THOSE WITH DEPOSIT-TAKING COMPANIES ROSE BY 7 PER CENT. DURING THE 12 MONTHS ENDING NOVEMBER 1988, THE FORMER ROSE BY 27 PER CENT WHILE THE LATTER GREW BY 3.4 PER CENT.
MONEY SUPPLY