TUESDAY, AUGUST 1, 1989
FOREIGN CURRENCY DEPOSITS
ALSO
WITH AUTHORISED INSTITUTIONS FELL BY 1.4 PER CENT IN JUNE, FOLLOWING INCREASES OF 3.4 PER CENT AND 0.4 PER CENT IN APRIL AND MAY RESPECTIVELY. THE FALL WAS ATTRIBUTABLE TO THE DECREASE, OF 3.3 PER CENT, IN NON-U.S. DOLLAR DEPOSITS WHICH MORE THAN OFFSET AN INCREASE OF ONLY 0.2 PER CENT IN U.S. DOLLAR DEPOSITS. OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS INCREASED BY 26.2 PER CENT.
FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 3.7 PER CENT IN JUNE, AFTER INCREASES OF 3.0 PER CENT AND 4.3 PER CENT IN APRIL AND MAY RESPECTIVELY. ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 0.1 PER CENT IN JUNE AND BY 20.6 PER CENT COMPARED WITH A YEAR EARLIER. ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, FELL BY 2.0 PER CENT IN JUNE AND BY 22.4 PER CENT OVER THE YEAR.
COMPARED WITH MAY, DEPOSITS OF ALL CURRENCIES WITH BANKS FELL BY 1.0 PER CENT WHILE THOSE WITH DEPOSIT-TAKING COMPANIES FELL BY 1.4 PER CENT. OVER THE 12 MONTHS ENDING JUNE 1989, THE FORMER ROSE BY 22.3 PER CENT WHILE THE LATTER GREW BY 12.7 PER CENT.
MONEY SUPPLY
HKSMI FELL BY 0.8 PER CENT, HKSM2 GREW BY 0.5 PER CENT, AND HKSM3 SHOWED LITTLE CHANGE IN JUNE. IN THE PRECEDING MONTH THESE MONETARY AGGREGATES GREW BY 1.1 PER CENT, 0.7 PER CENT AND 0 .8 PER CENT RESPECTIVELY. DURING THE 12 MONTHS ENDING JUNE 1989, THEIR CORRESPONDING GROWTH RATES WERE 6.1 PER CENT, 15.8 PER CENT AND 15.4 PER CENT.
ADJUSTED TO TAKE ACCOUNT OF SWAP DEPOSITS, HK SM2 AND HK$M3 GREW BY 0.9 PER CENT AND 0.5 PER CENT RESPECTIVELY IN JUNE. COMPARED WITH A YEAR EARLIER, THEY GREW BY 21.0 PER CENT AND 20.2 PER CENT RESPECTIVELY.
FELL WERE
TOTAL M1 GREW BY 0.2 PER CENT, WHILE TOTAL M2 AND M3 EACH BY 0.8 PER CENT IN JUNE. THEIR CORRESPONDING GROWTH RATES IN MAY 0.5 PER CENT, 0.9 PER CENT AND 0.5 PER CENT. OVER THE YEAR, TOTAL M1. M2 AND M3 GREW BY 6.2 PER CENT, 22.3 PER CENT AND 21.5 PER CENT RESPECTIVELY.
LOANS AND ADVANCES
TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS INCREASED BY 3.2 PER CENT IN
JUNE, FOLLOWING DECREASES OF 1.9 PER CENT IN APRIL AND 1.7 PER CENT IN MAY. OF THE TOTAL OUTSTANDING LOANS, THOSE DENOMINATED IN HONG KONG DOLLARS GREW BY
0.3 PER CENT WHILE THOSE DENOMINATED IN FOREIGN CURRENCIES GREW BY 5.7
PER CENT.
/LOANS TO