XN000022-1987-02-01 — Page 4

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SUNDAY, FEBRUARY 1, 1987

DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 3.5 PER CENT IN DECEMBER WHILE THOSE WITH DEPOSIT-TAKING COMPANIES INCREASEJ BY 0.3 PER CENT. OVER THE YEAR, THE FORMER GREW BY 33.8 PER CENT WHILE THE LATTER FELL BY 12.9 PER CENT.

HONG KONG DOLLAR MONEY SUPPLY

HONG KONG DOLLAR MONEY SUPPLY M1 GREW AT A RAPID PACE IN DECEMBER, BY 6.2 PER CENT AFTER AN INCREASE OF 2.0 PER CENT IN NOVEMBER. HK$M2 AND HK$M3 ALSO GREW MORE RAPIDLY THAN IN THE PREVIOUS MONTH, BY 4.2 PER CENT AND 3.4 PER CENT RESPECTIVELY. OVER THE YEAR, HK$M1 GREW BY 23.4 PER CENT, HK$M2 BY 22.2 PER CENT AND HK$M3 BY 16.0 PER CENT.

TOTAL MONEY SUPPLY

TOTAL MONEY SUPPLY M1 INCREASED BY 5.0 PER CENT IN DECEMBER, AFTER HAVING INCREASED BY 2.6 PER CENT IN NOVEMBER. TOTAL 12 AND TOTAL M3 GREW BY 3.5 PER CENT AND 3.1 PER CENT RESPECTIVELY. OVER THE YEAR, TOTAL M1 INCREASED BY 23.9 PER CENT, TOTAL M2 BY 32.8 PER CENT AND TOTAL M3 BY 24.8 PER CENT.

LOANS AND ADVANCES

TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES INCREASED AT A FASTER PACE IN DECEMBER, BY 1.2 PER CENT AFTER AN INCREASE OF ONLY 0.1 PER CENT IN NOVEMBËR. OVER THE YEAR, THEY GREW BY 13.8 PER CENT.

LOANS DENOMINATED IN HONG KONG DOLLARS GREW BY 1.4 PER CENT IN DECEMBER WHILE LOANS DENOMINATED IN FOREIGN CURRENCIES INCREASED LY 1.1 PER CENT. OVER THE YEAR, THE FORMER GREW BY 12.2 PER CENT WHILE THE LATTER GREW BY 15.4 PER CENT,

WITHIN THE TOTAL, LOANS TO FINANCE THE VISIBLE TRADE OF HONG KONG INCREASED BY 1.8 PER CENT AFTER A FALL OF 0.8 PER CENT IN NOVEMPER OVER THE YEAR THEY GREW BY 15.1 PER CENT.

1 PER CENT. OTHER LOANS FOR USE IN HONG KONG INCREASED BY 1.8 PER CENT IN DECEMBER AFTER AN INCREASE OF 0.7 PER CENT IN NOVEMBER; OVER THE YEAR, THEY GREW BY 15.2 PER CENT.

QUARTERLY ANALYSIS