XN000022-1988-04-30 — Page 3

SATURDAY, APRIL 30, 1988

MONETARY STATISTICS FOR MARCH PUBLISHED

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STATISTICS PUBLISHED TODAY (SATURDAY) BY THE MONETARY AFFAIRS BRANCH SHOWED THAT HONG KONG DOLLAR DEPOSITS FELL IN MARCH THIS YEAR COMPARED WITH THE PREVIOUS MONTH, PARTLY REFLECTING THE CONTINUED OUTFLOW OF SPECULATIVE FUNDS.

MARCH.

FOREIGN CURRENCY DEPOSITS, ON THE OTHER HAND, INCREASED IN

HONG

CONSISTENT WITH THE DECLINE IN HONG KONG DOLLAR DEPOSITS, KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS FELL IN MARCH COMPARED WITH FEBRUARY.

TOTAL LOANS AND ADVANCES EXTENDED BY INSTITUTIONS SHOWED A SLIGHT INCREASE IN MARCH.

DEPOSIT-TAKING

LOANS FOR USE OUTSIDE HONG KONG, WHICH HAD FALLEN FOR TWO CONSECUTIVE MONTHS, ROSE MODERATELY IN MARCH. LOANS FOR FINANCING VISIBLE TRADE AND OTHER LOANS FOR USE IN HONG KONG ALSO SHOWED MODEST INCREASES.

TABLE 1 SETS OUT SUMMARY FIGURES FOR MARCH 1988 AND COMPARISONS WITH EARLIER MONTHS. TABLE 2 PRESENTS FIGURES FROM THE QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG BY SECTOR.

DEPOSITS

HONG KONG DOLLAR DEPOSITS FELL BY 1.5 PER CENT IN MARCH, FOLLOWING AN INCREASE OF 2.9 PER CENT IN JANUARY AND A DECLINE OF 0.6 PER CENT IN FEBRUARY.

WITHIN THESE DEPOSITS,

DEMAND DEPOSITS AND SAVINGS DEPOSITS DECREASED BY 8.6 PER CENT AND 5.3 PER CENT RESPECTIVELY, WHILE TIME DEPOSITS INCREASED BY 5.9 PER CENT.

DURING THE 12 MONTHS ENDING MARCH 1988, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 19.7 PER CENT.

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FOREIGN CURRENCY DEPOSITS GREW BY 3 2 PER CENT IN MARCH, FOLLOWING A FALL OF 3.1 PER CENT IN JANUARY AND AN INCREASE OF 0.9 PER CENT IN FEBRUARY. AMONG THESE DEPOSITS, U.S. DOLLAR DEPOSITS GREW BY 3 PER CENT WHILE NON-U.S. DOLLAR DEPOSITS INCREASED BY 3.5 PER CENT.

OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS ROSE BY

21.8

PER CENT.

/FOREIGN CURRENCY .....