XN000022-1985-11-29 — Page 6

FRIDAY, NOVEMBER 29, 1985

OCTOBER MONETARY STATISTICS RELEASED

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TOTAL DEPOSITS INCREASED FURTHER IN OCTOBER, WITH TOTAL FOREIGN CURRENCY DEPOSITS CONTINUING TO GROW MORE RAPIDLY THAN THE HONG KONG DOLLAR COMPONENT, ACCORDING TO MONETARY STATISTICS PUBLISHED TODAY (FRIDAY).

M1, THE NARROW DEFINITION OF MONEY SUPPLY, FELL IN OCTOBER. HOWEVER, M2 AND M3 INCREASED AT FASTER RATES THAN IN SEPTEMBER- TOTAL M2 AND M3 REGISTERED MORE RAPID GROWTH THAN THE CORRESPONDING HONG KONG DOLLAR COMPONENTS.

TOTAL LOANS AND ADVANCES ROSE FURTHER IN OCTOBER, BUT THIS REFLECTED AN INCREASE IN LOANS FOR USE OUTSIDE HONG KONG, WHICH MORE THAN COMPENSATED FOR DECREASES IN LOANS TO FINANCE HONG KONG'S VISIBLE TRADE AND OTHER LOANS FOR USE IN HONG KONG.

THE TABLE ATTACHED SETS OUT SUMMARY FIGURES FOR OCTOBER 1985 AND COMPARISONS WITH EARLIER MONTHS.

DEPOSITS

HONG KONG DOLLAR DEPOSITS INCREASED BY 1.5 PER CENT IN OCTOBER,

IN THE FYLLOWING A MARGINAL INCREASE OF 0.1 PER CENT IN SEPTEMBER.

EE MONTHS TO OCTOBER, HONG KONG DOLLAR DEPOSITS GREW BY 1.7 PER ENT AND OVER THE 12 MONTHS THE GROWTH RATE WAS 17.2 PER CENT.

FOREIGN CURRENCY DEPOSITS INCREASED BY 2.5 PER CENT IN OCTOBER, FOLLOWING A RISE OF 1.9 PER CENT IN SEPTEMBER. IN THE THREE MONTHS TO OCTOBER, THESE DEPOSITS GREW BY 7.7 PER CENT AND OVER THE 10 MONTHS BY 31.2 PER CENT.

FOREIGN CURRENCY SWAP DEPOSITS FELL BY 1.3 PER CENT IN OCTOBER AFTER HAVING INCREASED BY 1.5 PER CENT IN SEPTEMBER. ADJUSTED FOR THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW AT THE SLIGHTLY SLOVER RATES OF 1. PER CENT IN OCTOBER AND 1.0 PER CENT IN THE THREE MONTHS TO OCTOBER: FOREIGN CURRENCY DEPOSITS, ON THE OTHER HAND GREW AT THE SLIGHTLY HIGHER RATES OF 2.9 PER CENT IN OCTOBER AND 9.4 PER CENT IN THE THREE MONTHS TO OCTOBER.

TOTAL DEPOSITS WITH BANKS GREW BY 2.5 PER CENT IN OCTOBER AFTER AN INCREASE OF 1.1 PER CENT IN SEPTEMBER. TOTAL DEPOSITS WITH DEPOSIT-TAKING COMPANIES FELL BY 0,2 PER CENT IN OCTOBER, COMPARED WITH AN INCREASE OF 0.6 PER CENT IN SEPTEMBER.

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