XN000022-1984-04-06 — Page 4

FRIDAY, APRIL 6, 1984

LIQUIDITY RATIOS

THE AVERAGE LIQUIDITY RATIO (AS DEFINED IN $. 18 OF THE BANKING ORDINANCE) FOR ALL BANKS FELL TO 48.6 PER CENT FROM 49.6 PER CENT IN JANUARY.

THE AVERAGE LIQUIDITY RATIO (AS DEFINED IN S. 24A OF THE DEPOSIT-TAKING COMPANIES ORDINANCE) FOR ALL DEPOSIT-TAKING COMPANIES FELL TO 54.5 PER CENT FROM 57.6 PER CENT IN JANUARY.

NUMBER OF REPORTING INSTITUTIONS

THE NUMBER OF INSTITUTIONS REPORTING MONETARY STATISTICS REMAINED UNCHANGED IN FEBRUARY WITH 134 LICENSED BANKS, 30 LICENSED DEPOSIT-TAKING COMPANIES AND 317 REGISTERED DEPOSIT-TAKING COMPANIES.

WELFARE WORK TO COST $2.4 BILLION *****

OVER $2 400 MILLION WILL BE SPENT ON SOCIAL WELFARE SERVICES IN 1984/85, THE DIRECTOR OF SOCIAL WELFARE, MR JOHN CHAMBERS, SAID TODAY.

THIS AMOUNTS TO ABOUT FIVE AND A HALF PER CENT OF THE TOTAL BUDGET AND IS AN INCREASE OF NEARLY 19 PER CENT OVER THE REVISED ESTIMATE FOR LAST YEAR, MR CHAMBERS SAID.

SPEAKING AT THE SEVENTH GATHERING OF SCOUT OFFICIALS AT THE AMBASSADOR HOTEL THIS EVENING, HE SAID: +WHEN YOU CONSIDER THAT THE OVERALL INCREASE IN THE BUDGET IS ONLY ABOUT NINE AND A HALF PER CENT, WE CERTAINLY CANNOT COMPLAIN ABOUT THE PROVISION FOR OUR WELFARE SERVICES.+

+NOT ONLY HAS OUR SHARE OF THE TOTAL BUDGET INCREASED, BUT ALLOWING FOR INFLATION, WE HAVE A SIGNIFICANT REAL INCREASE IN OUR BUDGET ALLOCATIONS.

+NOT BAD FOR WHAT IS GENERALLY ADMITTED TO BE NOT A VERY GOOD YEAR, + HE SAID.

MR CHAMBERS SAID THAT OF THE $2 400 MILLION, ABOUT $1 300 MILLION, BY FAR THE BIGGEST ELEMENT - ·WOULD BE IN SOCIAL SECURITY PAYMENTS.

HE SAID THAT +WELFARE SERVICES PROPER+ WAS AN AREA +WHERE THE VOLUNTARY AGENCIES' CONTRIBUTION BECOMES VITALLY IMPORTANT.+

THERE ARE