XN000022-1988-04-30 — Page 4

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SATURDAY, APRIL 30, 1988

DEPOSITS ROSE

FOREIGN CURRENCY SWAP

BY 27.2 PER CENT FEBRUARY, AFTER A DECLINE OF 25.1 PER CENT IN JANUARY AND AN OF 13.8 PER CENT IN FEBRUARY.

IN

INCREASE

ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 0.1 PER CENT IN MARCH AND BY 15.9 PER CENT OVER THE YEAR.

ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, EXCLUDE SWAP DEPOSITS, INCREASED BY 2 PER CENT IN MARCH PER CENT OVER THE YEAR.

ADJUSTED TO AND BY 25.7

1 PER CENT BY 2.2 PER

DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY IN MARCH WHILE THOSE WITH DEPOSIT-TAKING COMPANIES ROSE CENT. THEIR RESPECTIVE INCREASES FOR THE 12 MONTHS ENDING MARCH 1988 WERE 22.8 PER CENT AND 1.9 PER CENT.

MONEY SUPPLY

THE FALL IN CASH HOLDINGS AFTER THE LUNAR NEW YEAR, COUPLED WITH A DECLINE IN DEMAND DEPOSITS, RESULTED IN A DROP OF 5.5 PER CENT IN HK$M1 IN MARCH. HK$M2 AND HK$M3 FELL MORE MODERATELY, BY 1.5 PER CENT AND 1.2 PER CENT RESPECTIVELY.

THE CORRESPONDING INCREASES FOR THESE MONETARY AGGREGATES IN FEBRUARY WERK 1.4 PER CENT, 0.8 PER CENT AND 0.6 PER CENT.

DURING THE 12 MONTHS ENDING MARCH, HK$M1, M2 AND M3 GREW BY 34.7 PER CENT, 25.6 PER CENT AND 22.1 PER CENT RESPECTIVELY.

ADJUSTED TO TAKE ACCOUNT OF SWAP DEPOSITS, HK$M2 RECORDED GROWTH WHILE HK$M3 GREW BY 0.1 PER CENT IN MARCH. OVER THE YEAR, GREW BY 21.1 PER CENT AND 18.4 PER CENT RESPECTIVELY.

ZERO

THEY

M3

TOTAL MI FELL BY 7.2 PER CENT IN MARCH WHILE TOTAL M2 AND GREW BY 1 PER CENT AND 1.1 PER CENT RESPECTIVELY. THESE COMPARED WITH CORRESPONDING RATES OF 1.9 PER CENT, 0.9 PER CENT AND 0.7 PER CENT IN FEBRUARY.

DURING THE 12 MONTHS ENDING MARCH, TOTAL M1 GREW BY 36 PER CENT, TOTAL M2 BY 23.9 PER CENT AND TOTAL M3 BY 21.5 PER CENT.

LOANS AND ADVANCES

TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES GREW BY 0.4 PER CENT IN MARCH, FOLLOWING AN INCREASE OF 0.3 PER CENT IN JANUARY AND A DECREASE OF 0.1 PER CENT IN FEBRUARY.

OF THE TOTAL OUTSTANDING LOANS, THOSE DENOMINATED IN HONG KONG DOLLAR EDGED UP BY 1.2 PER CENT, WHILE THOSE DENOMINATED IN FOREIGN CURRENCIES DROPPED BY 0.1 PER CENT.

/LOANS TO *******