XN000022-1987-08-28 — Page 2

FRIDAY, AUGUST 28, 1987

MONETARY STATISTICS FOR JULY 1987

DEPOSITS IN HONG KONG DOLLAR GREW FASTER IN JULY THAN IN PREVIOUS MONTHS, ACCORDING TO STATISTICS PUBLISHED TODAY (FRIDAY) BY THE MONETARY AFFAIRS BRANCH. FOREIGN CURRENCY DEPOSITS ALSO INCREASED IN JULY.

HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS CONTINUED TO

-ROW IN JULY. THE BROAD DEFINITION OF MONEY SUPPLY, TOTAL M3, GREW

STER IN JULY THAN IN PAST MONTHS.

TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES INCREASED FASTER IN JULY THAN IN RECENT MONTHS. GROWTH IN LOANS FOR USE IN HONG KONG PICKED UP CONSIDERABLY AND THOSE FOR USB OUTSIDE HONG KONG CONTINUED TO REGISTER VERY RAPID GROWTH. HOWEVER, LOANS TO FINANCE HONG KONG'S VISIBLE TRADE GREW ONLY MODESTLY.

DEPOSITS ·

IN

IN JULY, HONG KONG DOLLAR DEMAND DEPOSITS INCREASED ONLY SLIGHTLY, BY 0.6 PER CENT AFTER THE RAPID INCREASE OF 8.9 PER CENT JUNE. SAVINGS DEPOSITS FELL BY 0.8 PER CENT BUT TIME DEPOSITS INCREASED BY 6 PER CENT. AS A RESULT, TOTAL HONG KONG DOLLAR ROSE BY 2.6 PER CENT IN JULY AFTER INCREASES OF 0.2 PER AND 2.4 PER CENT IN JUNE.

CENT

DEPOSITS MAY IN

OVER THE YEAR (1.E. FOR THE 12 MONTIIS ENDING JULY), TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 23.8 PER CENT.

FOREIGN CURRENCY DEPOSITS INCREASED BY 2.5 PER CENT IN JULY AFTER HAVING FALLEN BY 0.4 PER CENT IN JUNE. OVER THE YEAR, DEPOSITS GREW BY 34.1 PER CENT.

THESE

PER IN US DOLLARS ROSE BY 0.9 OF THE TOTAL, DEPOSITS JULY AFTER INCREASES OF 2 PER CENT IN MAY AND 0.2 PER CENT IN JUNE. BY 5 DEPOSITS IN OTHER FOREIGN CURRENCIES INCREASED FASTER IN JULY,

A DECREASE OF PER CENT AFTER AN INCREASE OF 1.5 PER CENT IN MAY AND 1.1 PER CENT IN JUNE.

CENT

IN

JULY.

CENT IN DEPOSITS

PER FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 3.2

DOLLAR ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG GREW BY 2.7 PER CENT IN JULY WHILE ADJUSTED FOREIGN CURRENCY DEPOSITS INCREASED BY 2.4 PER CENT.

CENT DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 2.4 PER

COMPANIES INCREASED BY IN JULY WHILE THOSE WITH DEPOSIT-TAKING

3.4 THE FORMER PER CENT. FOR THE THREE MONTHS ENDING JULY,

OREW BY 4.5 PER CENT AND THE LATTER BY 4.2 PER CENT.

/MONEY SUPPLY