XN000022-1988-05-28 — Page 4

SATURDAY, MAY 28, 1988

3

MONETARY STATISTICS FOR APRIL RELEASED

*

BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS INCREASED IN APRIL COMPARED WITH THE PREVIOUS MONTH, ACCORDING TO STATISTICS PUBLISHED TODAY (SATURDAY) BY THE MONETARY AFFAIRS BRANCH.

HK$M1 DROPPED SLIGHTLY IN APRIL, REFLECTING THE DECLINE IN CURRENCY HELD BY THE PUBLIC. HK$M2 AND HK$M3, ON THE OTHER HAND,

INCREASED DURING THE MONTH.

TOTAL LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS GREW MORE RAPIDLY IN APRIL THAN IN THE PRECEDING MONTH, MAINLY ATTRIBUTABLE TO THE PICKING UP IN THE GROWTH OF OFFSHORE LOANS AND LOANS FOR USE IN HONG KONG. LOANS FOR FINANCING VISIBLE TRADE EDGED UP SLIGHTLY IN APRIL.

SUMMARY FIGURES FOR APRIL 1988 AND COMPARISIONS WITH EARLIER MONTHS ARE SET OUT IN TABLE 1.

DEPOSITS

HONG KONG DOLLAR DEPOSITS ROSE BY 2.1 PER CENT IN APRIL FOLLOWING DECLINES OF 0.6 PER CENT AND 1.5 PER CENT IN FEBRUARY AND MARCH RESPECTIVELY. OF THESE DEPOSITS, DEMAND DEPOSITS AND TIME DEPOSITS INCREASED BY 2.6 PER CENT AND 4.8 PER CENT RESPECTIVELY, WHILE SAVINGS DEPOSITS DECREASED BY 0.5 PER CENT. DURING THE 12 MONTHS ENDING APRIL 1988, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 21.4 PER CENT.

FOREIGN CURRENCY DEPOSITS GREW BY 2.9 PER CENT IN APRIL FOLLOWING INCREASES OF 0.9 PER CENT AND 3.2 PER CENT IN FEBRUARY AND MARCH RESPECTIVELY, OF THESE DEPOSITS, U.S. DOLLAR DEPOSITS GREW BY 2.4 PER CENT WHILE NON-U.S. DOLLAR DEPOSITS INCREASED BY 3.6 PER CENT. OVER THE YFAR, TOTAL FOREIGN CURRENCY DEPOSITS ROSE BY 20.8 PER CENT.

FOREIGN CURRENCY SWAP DEPOSITS ROSE BY 10.7 PER CENT IN APRIL AFTER INCREASES OF 13.8 PER CENT AND 27.2 PER CENT IN FEBRUARY AND MARCH RESPECTIVELY. ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 2.7 PER CENT IN APRIL, AND BY 17.9 PER CENT OVER THE YEAR. ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, INCREASED BY 2.4 PER CENT ÎN APRIL AND BY 24.1 PER CENT OVER THE YEAR.

3.

CENT 2 PER

1988

DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 2.5 PER IN APRIL WHILE THOSE WITH DEPOSIT-TAKING COMPANIES ROSE BY CENT. THEIR RESPECTIVE INCREASES FOR THE 12 MONTHS ENDING WERE 22.9 PER CENT AND 3.7 PER CENT.

APRIL

/MONEY SUPPLY