- 14
-
(a) Notice to warn, which requires suppliers of toys and children's products to improve the safety of their products;
(b) Prohibition notice, which requires suppliers to stop supplying unsafe products; and
(c) Recall notice, which requires suppliers to recall unsafe products from the market.
End/Friday, June 30, 1995
Monthly statistics for May 1995
According to statistics published today (Friday) by the Hong Kong Monetary Authority, the movement of Hong Kong dollar deposits into time deposits has continued to moderate in May 1995.
months.
Table 1 sets out summary figures for May 1995 and comparisons with earlier
Deposits
The growth of total Hong Kong dollar deposits moderated to 0.7% in May 1995, compared to 1.9% last month. Time deposits registered a growth of 0.3%, compared with 3.5% in April. Savings and demand deposits grew at 1.3% and 1.7% respectively, compared to 1.6% growth and an 8% decline in April. This indicates that the deposit migration resulting from the rise in interest rates and the partial removal of the interest rate cap on time deposits has moderated. Savings deposits have now risen in each of the last few months.
Swap deposits continued to decline in May, but at a slower pace of 3.6% compared to 5.8% in April. Since the first phase of the removal of the interest rate cap was implemented in October 1994, such deposits have fallen by 38% from the peak in November as HK dollar time deposits have become a preferred alternative.