XN000022-1986-02-03 — Page 8

MONDAY, FEBRUARY 3, 1986

HONG KONG DOLLAR MONEY SUPPLY

HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS INCREASED. HK$M1 (THE NARROWEST DEFINITION) ROSE BY 1.2 PER CENT IN DECEMBER, FOLLOWING AN INCREASE OF 0.4 PER CENT IN NOVEMBER. HK$M2 AND HK$M3 ROSE BY 1.5 PER CENT AND 1.4 PER CENT RESPECTIVELY; THE CORRESPONDING INCREASES IN NOVEMBER WERE 0.9 PER CENT AND 0.6 PER CENT. IN THE THREE MONTHS TO DECEMBER, HK$M1 GREW BY 1.1 PER CENT, HK$M2 BY 3.9 PER CENT, AND HK$M3 BY 3.3 PER CENT OVER THE YEAR, THE CORRESPONDING INCREASES WERE 25.4 PER CENT, 12.8 PER CENT AND 12 PER CENT.

AFTER ADJUSTING FOR SWAP DEPOSITS, HK$M2 AND HK$M3 GREW MARGINALLY FASTER, AT 1.6 PER CENT AND 1.5 PER CENT RESPECTIVELY IN DECEMBER. IN THE THREE MONTHS TO DECEMBER, THE CORRESPONDING GROWTH RATES WERE 3.7 PER CENT AND 3.2 PER CENT.

TOTAL MONEY SUPPLY

TOTAL MONEY SUPPLY ON ALL DEFINITIONS ROSE FURTHER IN DECEMBER. TOTAL M1 GREW BY 0.5 PER CENT, AFTER AN INCREASE OF 0.7 PER CENT IN NOVEMBER. TOTAL M2 AND TOTAL M3 GREW BY 2.2 PER CENT AND 2.3 PER CENT RESPECTIVELY; THE CORRESPONDING GROWTH RATES IN NOVEMBER WERE 2 PER CENT AND 1.7 PER CENT. IN THE THREE MONTHS TO DECEMBER, TOTAL M1 FELL BY 0.9 PER CENT, WHILE TOTAL M2 AND TOTAL M3 GREW BY 6.5 PER CENT AND 5.9 PER CENT RESPECTIVELY; OVER THE YEAR. THE CORRESPONDING GROWTH RATES WERE 23 PER CENT, 24.2 PER CENT AND 22.6 PER CENT,

LOANS AND ADVANCES

LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES FELL BY 1.4 PER CENT IN DECEMBER, AGAINST AN INCREASE OF 1.8 PER CENT IN NOVEMBER. IN THE THREE MONTHS TO DECEMBER THESE GREW BY 1.1 PER CENT AND OVER THE TWELVE MONTHS BY 4.5 PER CENT. LOANS DENOMINATED IN HONG KONG DOLLARS GREW BY 0.3 PER CENT AND LOANS DENOMINATED IN FOREIGN CURRENCIES FELL BY 3 PER CENT IN DECEMBER. THE CORRESPONDING RATE OF GROWTH IN NOVEMBER WERE 1.5 PER CENT AND 2.1 PER CENT. IN THE THREE MONTHS TO DECEMBER, THE FORMER GREW BY 1 PER CENT WHILE THE LATTER GREW BY 1.1 PER CENT,

WITHIN THE TOTAL, LOANS TO FINANCE VISIBLE TRADE OF HONG KONG ROSE BY 2 PER CENT AFTER AN INCREASE OF 0.1 PER CENT IN NOVEMBER. IN THE THREE MONTHS TO DECEMBER, THESE LOANS GREW BY 1.3 PER CENT AND OVER THE TWELVE MONTHS, THEY FELL BY 5 PER CENT. OTHER LOANS FOR USE IN HONG KONG FELL BY 1.5 PER CENT IN DECEMBER, FOLLOWING AN INCREASE OF 2.3 PER CENT IN NOVEMBER. IN THE THREE MONTHS TO DECEMBER, THEY GREW BY 0.5 PER CENT AND OVER THE TWELVE MONTHS BY 6.4 PER CENT.

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