XN000022-1989-03-02 — Page 5

THURSDAY, MARCH 2, 1989

THE BROADER DEFINITIONS, HK$M2 CONSIDERABLE GROWTH DURING THE MONTH.

AND HK SM3, ALSO SHOWED

TOTAL

LOANS

AND ADVANCES

EXTENDED BY

AUTHORISED

INSTITUTIONS

MONTH.

INCREASED IN JANUARY 1989 COMPARED WITH THE PREVIOUS

WHILE LOANS TO FINANCE VISIBLE TRADE AND OTHER LOANS FOR USE IN HONG KONG SHOWED CONSIDERABLE INCREASES, LOANS FOR USE OUTSIDE HONG KONG ROSE SLIGHTLY,

TABLE 1 SETS OUT SUMMARY FIGURES FOR JANUARY 1989 AND COMPARISONS WITH EARLIER MONTHS.

DEPOSITS

HONG KONG

2.3 PER CENT IN

DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS GREW BY JANUARY 1989, FOLLOWING AN INCREASE OF 4.4 PER CENT

IN NOVEMBER AND A ZERO GROWTH IN DECEMBER 1988.

OF THESE DEPOSITS, DEMAND AND TIME DEPOSITS ROSE BY 8.4 PER CENT AND 3.3 PER CENT RESPECTIVELY, WHILE SAVINGS DEPOSITS DROPPED BY 1.6 PER CENT. DURING THE 12 MONTHS ENDING JANUARY 1989, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 11.4 PER CENT.

FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS GREW BY 2.8 PER CENT IN JANUARY 1989, FOLLOWING INCREASES OF 5.7 PER CENT AND 0. .5 PER CENT IN NOVEMBER AND DECEMBER 1988 RESPECTIVELY.

OF THESE DEPOSITS, U.S. DOLLAR DEPOSITS ROSE BY 0.1 PER CENT WHILE NON-U.S. DOLLAR DEPOSITS GREW BY 6 PER CENT. OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS ROSE BY 34.3 PER CENT.

AND AN

FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 4.2 PER CENT IN JANUARY 1989.

AFTER A DECLINE OF 0.4 PER CENT IN NOVEMBER INCREASE OF 7.2 PER CENT IN DECEMBER 1988.

ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 2.5 PER CENT IN JANUARY AND BY 19.8 PER CENT COMPARED WITH A YEAR EARLIER.

ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, INCREASED BY 2.7 PER CENT IN JANUARY AND BY 27.7 PER CENT OVER THE YEAR.

3.

IN

3 PER ROSE BY

DEPOSITS OF ALL CURRENCIES WITH BANKS GREW BY 3.1 PER CENT JANUARY WHILE THOSE WITH DEPOSIT-TAKING COMPANIES FELL BY CENT. DURING THE 12 MONTHS ENDING JANUARY 1989, THE FORMER 24.6 PER CENT WHILE THE LATTER GREW BY 16 PER CENT.

/MONEY SUPPLY