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FRIDAY, DECEMBER 1, 1989
DEPOSITS OF ALL CURRENCIES WITH BANKS ROSE BY 1.7 PER CENT IN OCTOBER WHILE THOSE WITH DEPOSIT-TAKING COMPANIES EXPERIENCED AN UNUSUAL INCREASE OF 5.0 PER CENT. THERE WERE SOME LARGE INCREASES IN FOREIGN CURRENCY DEPOSITS PLACED WITH A NUMBER
DEPOSIT-TAKING COMPANIES.
OF LICENSED
OVER THE 12 MONTHS ENDING OCTOBER 1989, THE FORMER ROSE BY 20.2 PER CENT WHILE THE LATTER GREW BY 11.9 PER CENT.
MONEY SUPPLY
HKSM1, HK3M2 AND HK$M3 DECLINED BY 3.4 PER CENT, 0.2 PER CENT AND 0.2 PER CENT RESPECTIVELY IN OCTOBER. THEIR CORRESPONDING GROWTH RATES IN SEPTEMBER WERE 7.4 PER CENT, 2.4 PER CENT AND 2.0 PER CENT,
THIS CONTRAST WAS A REFLECTION OF THE EFFECT OF THE NEW SHARE ISSUE AT THE END OF SEPTEMBER 1989 WHICH INVOLVED TOTAL SUBSCRIPTION MONIES OF AROUND $4.6 BILLION.
DURING THE 12 MONTHS ENDING OCTOBER 1989.
HK$M1, HK$M2 AND
HK8M3 ROSE BY 6.1 PER CENT. 13.9 PER CENT AND 12. 4 PER CENT
RESPECTIVELY.
ADJUSTED TO TAKE ACCOUNT OF SWAP DEPOSITS, HK$M2 DECLINED BY 0.2 PER CENT IN OCTOBER AND GREW BY 17.9 PER CENT COMPARED WITH A YEAR EARLIER. HK$M3 DECLINED BY 0.2 PER CENT IN OCTOBER AND GREW BY 16.3 PER CENT OVER THE YEAR.
TOTAL MI FELL BY 2.9 PER CENT WHILE TOTAL M2 AND M3 GREW BY 1.6 PER CENT AND 1.8 PER CENT RESPECTIVELY IN OCTOBER. THEIR CORRESPONDING GROWTH RATES IN SEPTEMBER WERE 7.0 PER CENT. 1.3 PER CENT AND 1.3 PER CENT.
OVER THE YEAR. TOTAL M1, M2 AND M3 GREW BY 5.4 PER CENT, 19.9 PER CENT AND 19.3 PER CENT RESPECTIVELY.
LOANS AND ADVANCES
TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS DECLINED BY 4.6 PER CENT IN OCTOBER, FOLLOWING AN INCREASE OF 2.5 PER CENT IN AUGUST AND AN INCREASE OF 11. 3 PER CENT IN SEPTEMBER.
OF THE TOTAL OUTSTANDING LOANS, THOSE DENOMINATED IN HONG KONG DOLLARS GREW BY 0.2 PER CENT. THOSE DENOMINATED IN FOREIGN CURRENCIES DECREASED BY 7.9 PER CENT AFTER AN INCREASE IN SEPTEMBER OF 19.5 PER CENT, CONFORMING WITH A QUARTERLY PATTERN ESTABLISHED RECENTLY IN FOREIGN CURRENCY LOANS FOR USE OUTSIDE HONG KONG,
/LOANS TO