XN000022-1987-11-02 — Page 11

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MONDAY, NOVEMBER 2, 1987

1.9 PER CENT IN HONG KONG DOLLAR SEPTEMBER WHILE ADJUSTED FOREIGN

DEPOSITS,

FOREIGN CURRENCY SWAP DEPOSITS DECREASED BY SEPTEMBER. ADJUSTED TO INCLUDE THESE DEPOSITS GREW BY 2.6 PER CENT IN CURRENCY DEPOSITS FELL BY 0.2 PER CENT.

CENT COMPANIES INCREASED BY DEPOSITS WITH DEPOSIT-TAKING DEPOSITS WITH COMPANIES

DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 1.3 PER IN SEPTEMBER WHILE THOSE WITH DEPOSIT-TAKING

ENDING SEPTEMBER, 0.9 PER CENT. FOR THE THREE MONTHS

5.4 PER CENT WHILE THOSE WITH BANKS INCREASED BY

OVER THE YEAR, COMPANIES INCREASED BY 6.1 PER CENT. BANKS GREW BY 29.5 PER CENT WHILE THOSE WITH DEPOSIT-TAKING INCREASED BY 0.1 PER CENT.

MONEY SUPPLY

REFLECTING THE RAPID INCREASE IN

DEMAND DEPOSITS, HONG KONG M2 AND DOLLAR M1 ROSE BY 9.1 PER CENT IN SEPTEMBER. HONG KONG DOLLAR

PER 3.2 PER BY

CENT AND

CENT 3.0 INCREASED RAPIDLY, M3 ALSO

YEAR THE GROWTH IN HONG KONG RESPECTIVELY IN SEPTEMBER. OVER THE

AND 26.3 PER DOLLAR M1, M2 AND M3 WERE 37.9 PER CENT, 30.5 PER CENT CENT RESPECTIVELY.

TOTAL

MONEY

SUPPLY

BY

ON

6.8

ALL

PER

IN

AN

THE

WITH

ALSO DEFINITIONS

INCREASED CENT IN

AFTER SEPTEMBER SEPTEMBER. TOTAL M1 GREW

AND TOTAL M3, ON INCREASE OF 1.8 PER CENT IN AUGUST. TOTAL M2 OTHER HAND, BOTH INCREASED BY 1.2 PER CENT IN SEPTEMBER COMPARED AN INCREASE OF 1.6 PER CENT IN BOTH OF THEM IN AUGUST. TOTAL MI GREW BY 39.2 PER CENT, TOTAL M2 BY 29.3 PER M3 BY 26.0 PER CENT.

LOANS AND ADVANCES

YEAR, OVER THE CENT AND TOTAL

ADVANCES

EXTENDED BY BANKS AND IN SEPTEMBER, BY PER CENT THIS

TOTAL OUTSTANDING LOANS AND DEPOSIT-TAKING COMPANIES CONTINUED TO GROW RAPIDLY 4.0 PER CENT AFTER INCREASES OF 5.8 PER CENT IN JULY AND 4.9 IN AUGUST. AS IN THE PREVIOUS FEW MONTHS, A CONSIDERABLE PART OF

THE FAST GROWTH IN OFFSHORE LOANS. INCREASE WAS ATTRIBUTABLE TO CONSISTENT

FOREIGN CURRENCIES THIS, LOANS DENOMINATED IN WITH

DENOMINATED IN HONG KONG INCREASED BY 4.7 PER

WHILE THOSE CENT, DOLLARS GREW BY 3.2 PER CENT,

KONG FELL SLIGHTLY GREW BY

LOANS TO FINANCE THE VISIBLE TRADE OF HONG IN SEPTEMBER, BY 0.4 PER CENT; OVER THE YEAR THESE LOANS PER CENT. OTHER LOANS FOR USE IN HONG KONG GREW FASTER BY 3.6 PER CENT FOLLOWING AN INCREASE OF 1.9 PER CENT IN LOANS FOR THE YEAR, THESE LOANS OREW BY 29.9 PER CENT. HONG KONG GREW SLOWER IN SEPTEMBER, BY 0.1 PER CENT, BUT THE PLACE OF USE IS UNKNOWN INCREASED BY 29.3 PER CENT,

23.3

IN SEPTEMBER, AUGUST. OVER USE OUTSIDE LOANS WHERE

/QUARTERLY ANALYSIS