XN000022-1984-07-30 — Page 2

MONDAY, JULY 30, 1984

JUNE HK, FOREIGN CURRENCY DEPOSITS RISE

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BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS

WITH THE MONETARY SECTOR ROSE DURING JUNE, ACCORDING TO MONETARY STATISTICS PUBLISHED TODAY.

REFLECTING THIS, BOTH HONG KONG DOLLAR MONEY SUPPLY AND

TOTAL MONEY SUPPLY ROSE ON ALL DEFINITIONS.

WHILE LOANS TO FINANCE VISIBLE TRADE CONTINUED TO GROW AT A RAPID PACE, OTHER LOANS FOR USE IN HONG KONG RECORDED ONLY A SMALL INCREASE.

TABLE 1 SETS OUT SUMMARY FIGURES FOR JUNE 1984 AND COMPARISONS WITH EARLIER MONTHS. TABLE 2 SETS OUT SOME FIGURES FROM THE QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG BY SECTOR,

(THE TWO TABLES ARE BEING TRANSMITTED BY FACSIMILE AND ALSO BOXED FOR COLLECTION).

DEPOSITS

HONG KONG DOLLAR DEPOSITS ROSE BY 1.7 PER CENT IN JUNE, REVERSING THE DECLINE IN MAY OF 1.1 PER CENT. IN THE THREE MONTHS TO JUNE, HONG KONG DOLLAR DEPOSITS DECLINED BY 0.9 PER CENT, BUT OVER THE TWELVE MONTHS INCREASED BY 28.8 PER CENT. FOREIGN CURRENCY DEPOSITS CONTINUED TO INCREASE, BY 2.5 PER CENT. IN THE THREE MONTHS TO JUNE, THE INCREASE WAS 13.7 PER CENT AND OVER THE TWELVE MONTHS THE INCREASE WAS 34.1 PER CENT.

DURING THE THREE MONTHS TO JUNE, TOTAL DEPOSITS WITH BANKS INCREASED BY TWO PER CENT, WHILE THOSE WITH DEPOSIT-TAKING COMPANIES INCREASED BY 24 PER CENT. THE INTEREST RATES OFFERED BY THE DEPOSIT-TAK ING COMPANIES REFLECTED MONEY MARKET RATES MORE CLOSELY AND THEREFORE WERE WELL ABOVE THE DEPOSIT RATES SET BY THE HONG KONG ASSOCIATION OF BANKS DURING THIS PERIOD.

HONG KONG DOLLAR MONEY SUPPLY

HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS ROSE. WHILE HK$M1 (THE NARROWEST DEFINITION) INCREASED BY 0.7 PER CENT, HK$M2 ROSE BY 1.1 PER CENT AND HK$M3 BY 1.6 PER CENT, IN CONTRAST TO RESPECTIVE DECREASES OF 5.6 PER CENT, 3.5 PER CENT AND 1.2 PER CENT IN MAY.

IN THE THREE MONTHS TO JUNF HK$M1, HK$M2 AND HK$M3 DECREASED BY 6.5 PER CENT, 5.8 PER CENT AND 1.2 PER CENT RESPECTIVELY. HOWEVER, OVER THE TWELVE MONTHS, THEY REGISTERED INCREASES OF 12 PER CENT, 21.7 PER CENT AND 26.5 PER CENT RESPECTIVELY.

TOTAL MONEY