XN000022-1988-10-01 — Page 4

SATURDAY, OCTOBER 1, 1988

3

IN LINE WITH THE DECLINE IN HONG KONG

DOLLAR DEPOSITS,

HK$M2

AND HK$M3 FELL MODERATELY IN AUGUST, AND HKSM1 GREW ONLY MODERATELY,

INSTITUTIONS MONTH, MAINLY OFFSHORE

TOTAL LOANS AND ADVANCES EXTENDED BY AUTHORISED GREW MORE RAPIDLY IN AUGUST THAN IN THE PRECEDING ATTRIBUTABLE TO THE PICKING UP IN THE GROWTH RATES OF AND LOANS FOR USE IN HONG KONG IN AUGUST COMPARED WITH JULY.

LOANS TO FINANCE VISIBLE TRADE SHOWED SOME

LOANS

MODERATION

IN

GROWTH RATE,

HOWEVER.

THE ACCOMPANYING TABLE SETS OUT SUMMARY FIGURES FOR 1988 AND COMPARISONS WITH EARLIER MONTHS.

DEPOSITS

AUGUST

HONG KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS FELL 0.4 PER CENT IN AUGUST FOLLOWING DECLINES OF 0.3 PER CENT IN JUNE 0.1 PER CENT IN JULY.

BY

AND

CENT,

PER

CENT

OF THESE DEPOSITS, SAVINGS DEPOSITS DECREASED BY 4.7 PER WHILE DEMAND AND TIME DEPOSITS GREW BY 2.0 PER CENT AND 2.1 RESPECTIVELY.

DURING THE TWELVE MONTHS ENDING AUGUST 1988, TOTAL DOLLAR DEPOSITS GREW BY 12.7 PER CENT.

HONG

KONG

FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS GREW BY 1.1 PER CENT IN AUGUST FOLLOWING INCREASES OF 1.3 PER CENT AND PER CENT IN JUNE AND JULY RESPECTIVELY.

3.5

OF THESE DEPOSITS, US DOLLAR DEPOSITS INCREASED BY CENT WHILE NON-US DOLLAR DEPOSITS GREW SLIGHTLY FASTER BY CENT.

1.

1.1 PER

.2

PER

OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS ROSE PER CENT.

BY

26.4

FOREIGN CURRENCY SWAP DEPOSITS CONTINUED ΤΟ INCREASE BY 7.3 PER CENT IN AUGUST, AFTER INCREASES OF 10.6 PER CENT AND 6.3 PER CENT IN JUNE AND JULY RESPECTIVELY.

ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 0.4 PER CENT IN AUGUST AND BY 12.2 PER CENT OVER THE YEAR.

ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, INCREASED BY 0.6 PER CENT IN AUGUST AND 28.5 PER CENT OVER THE YEAR.

BY

DEPOSITS OF ALL CURRENCIES WITH BANKS AND WITH COMPANIES BOTH INCREASED BY 0.5 PER CENT IN AUGUST.

DEPOSIT-TAKING

HOWEVER, DURING THE TWELVE MONTHS ENDING AUGUST 1988, GROWTH RATE OF DEPOSITS WITH BANKS, AT 21.7 PER CENT, WAS FASTER THAT WITH DEPOSIT-TAKING COMPANIES, AT 7.9 PER CENT,

THE

THAN

/MONEY SUPPLY