XN000022-1983-06-03 — Page 2

FRIDAY, JUNE 3, 1983

APRIL MONEY SUPPLY AND FINANCIAL STATISTICS

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TOTAL MONEY SUPPLY ON THE BROADER DEFINITIONS RECORDED VIRTUALLY NO INCREASE DURING APRIL, ACCORDING TO THE MONEY SUPPLY AND FINANCIAL STATISTICS FOR THE MONTH" PUBLISHED TODAY.

TOTAL M1, HOWEVER, FELL, AS HOLDINGS OF CASH BY THE PUBLIC RETURNED TO A LOWER LEVEL AFTER THE EASTER HOLIDAY. MEANWHILE, HK$ MONEY SUPPLY ON ALL DEFINITIONS FELL IN APRIL.

DURING THE MONTH, THERE WAS STILL A MODEST SHIFT OF DEPOSITS FROM REGISTERED DEPOSIT-TAKING COMPANIES TO LICENSED BANKS AND LICENSED DEPOSIT-TAKING COMPANIES, ONLY PARTLY ACCOUNTED FOR BY THE CHANGE IN STATUS OF ONE DEPOSIT-TAKING COMPANY FROM REGISTERED TO LICENSED,

RECORDED HONG KONG DOLLAR DEPOSITS DECREASED.

FOREIGN CURRENCY DEPOSITS GREW SLIGHTLY, BUT SUCH GROWTH APPEARS TO HAVE MERELY REFLECTED THE VALUATION EFFECT OF A WEAKER HONG KONG DOLLAR OVER THE MONTH.

(THE MONETARY STATISTICS ARE PRESENTED IN HONG KONG DOLLARS, CONTRIBUTING INSTITUTIONS HAVING CONVERTED FOREIGN CURRENCY AMOUNTS AT THE RELEVANT EXCHANGE RATE ON THE REPORTING DAY).

TOTAL LOANS AND ADVANCES GREW MODESTLY, BUT WITH LOANS TO FINANCE VISIBLE TRADE OF HONG KONG EXPERIENCING SUBSTANTIAL GROWTH.

IT

(A TABLE SETTING OUT SUMMARY FIGURES FOR APRIL AND COMPARISONS WITH EARLIER MONTHS, IS BEING TRANSMITTED BY FACSIMILE NETWORK. WILL ALSO BE BOXED FOR COLLECTION).

HONG KONG DOLLAR MONEY SUPPLY

THE HK$ MONEY SUPPLY, ON ALL DEFINITIONS, FELL FURTHER IN APRIL. THE NARROWEST DEFINITION, HK$M1, FELL BY 1.6 PER CENT, FOLLOWING A FALL OF 2.5 PER CENT IN MARCH. THE BROADER DEFINITIONS, HK$M2 AND HK$83, BOTH FELL BY A FURTHER 1.2 PER CENT FOLLOWING FALLS OF 1.4 PER CENT IN MARCH.

IN THE THREE MONTHS TO APRIL, HK$M1 FELL BY THREE PER CENT WHILE BOTH HK$M2 AND HK$M3 FELL BY 3.1 PER CENT. SOME NET GROWTH WAS, HOWEVER, RECORDED IN THE TWELVE MONTHS TO APRIL ON ALL DEFINITIONS HK$M1_BY 10.3 PER CENT, HK$M2 BY 17.3 PER CENT AND HK$M3 BY 0.9 PER CENT.

/TOTAL MONEY