XN000022-1989-07-04 — Page 5

TUESDAY, JULY 4. 1989

MONETARY STATISTICS FOR MAY 1989

TO

THE GROWTH RATES OF BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY

APRIL, ACCORDING SLOWED DOWN IN MAY COMPARED WITH DEPOSITS STATISTICS PUBLISHED TODAY (TUESDAY) BY THE MONETARY AFFAIRS BRANCH.

THE BROADER DEFINITIONS OF HONG KONG DOLLAR MONEY SUPPLY, HK$M2 THE NARROWEST MAY THAN IN APRIL.

CONSECUTIVE AND HKSM3, GREW LESS RAPIDLY IN

TWO FOLLOWING DEFINITION, HK$M1, ROSE DURING THE MONTH, MONTHLY DECLINES.

INSTITUTIONS FALL IN LOANS FOR

AUTHORISED BY TOTAL LOANS AND ADVANCES EXTENDED

DUE TO THE APRIL, LARGELY DECLINED IN MAY COMPARED WITH

AND OTHER

OFFSHORE LOANS. LOANS TO FINANCE VISIBLE TRADE USE IN HONG KONG CONTINUED TO INCREASE DURING THE MONTH.

DEPOSITS

HONG KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS GREW 1.0 PER CENT IN MAY FOLLOWING INCREASES OF 0.7 PER CENT AND 1.9

DEPOSITS, CENT IN MARCH AND APRIL RESPECTIVELY. OF THESE

PER CENT SAVINGS DEPOSITS ROSE BY 3.2 PER CENT AND WHILE TIME DEPOSITS RECORDED ZERO GROWTH.

BY

PER

2

DEMAND RESPECTIVELY,

AND

DURING THE 12 MONTHS ENDING MAY 1989, TOTAL

DEPOSITS GREW BY 15.5 PER CENT.

HONG KONG DOLLAR

BY 3.4 PER

FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS GREW 0.4 PER CENT IN MAY, FOLLOWING INCREASES OF 3.0 PER CENT AND CENT IN MARCH AND APRIL RESPECTIVELY. OF THESE DEPOSITS, DEPOSITS INCREASED BY 3.1 PER CENT FELL BY 2.7 PER CENT.

U.S. DOLLAR DEPOSITS

DOLLAR

WHILE NON-U.S.

OVER THE YEAR, TOTAL FOREIGN

CURRENCY DEPOSITS

29.7 PER CENT.

INCREASED BY

4.3 PER CENT IN AND CENT IN MARCH

HONG KONG THESE DEPOSITS,

PER CENT MAY AND BY 21.2

FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY MAY, AFTER INCREASES OF 7.4 PER CENT AND 3.0 PER APRIL RESPECTIVELY. ADJUSTED TO INCLUDE DOLLAR DEPOSITS GREW BY 1.4 PER CENT IN COMPARED WITH A YEAR EARLIER.

ON THE OTHER

ADJUSTED DEPOSITS, CURRENCY FOREIGN HAND,

AND BY 25.7 EXCLUDE SWAP DEPOSITS, FELL BY 0.1 PER CENT IN MAY CENT OVER THE YEAR.

TO

PER

CENT IN 4.8 PER DEPOSITS OF ALL CURRENCIES WITH BANKS GREW BY 1.1 PER

CENT. MAY WHILE THOSE WITH DEPOSIT-TAKING COMPANIES FELL BY DURING THE 12 MONTHS ENDING MAY 1989, THE FORMER CENT WHILE THE LATTER GREW BY 14.6 PER CENT.

BY ROSE

24.4

PER

/MONEY SUPPLY