XN000022-1990-05-04 — Page 3

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DECLINE THE YEAR-ON-YEAR

REFLECTED, AMONG DECREASE IN THE NUMBER OF THESE INSTITUTIONS.

MONEY SUPPLY

FRIDAY, MAY 4, 1990

OTHER

THINGS,

A

HK$M1 FELL BY 2.4 PER CENT IN MARCH WHILE HK$M2 AND HK$M3 (ADJUSTED TO INCLUDE SWAP DEPOSITS) EACH INCREASED BY 0.3 PER CENT.

IN FEBRUARY, HK$M1, HK$M2, AND HK$M3 DECLINED BY 7.8 PER CENT, 0.8 PER CENT AND 0.7 PER CENT RESPECTIVELY.

FOR THE 12 MONTHS ENDING MARCH, THESE MONETARY AGGREGATES ROSE BY 2.8 PER CENT, 13.2 PER CENT AND 11.4 PER CENT RESPECTIVELY.

TOTAL M1 DECLINED BY 4.0 PER CENT DURING MARCH WHILE TOTAL M2 AND M3 GREW BY 0.3 PER CENT AND 0.6 PER CENT RESPECTIVELY. THEIR CORRESPONDING GROWTH RATES IN FEBRUARY WERE -6.9

1.1 CENT,

PER

CENT AND 1.1 PER CENT.

PER

OVER THE YEAR, TOTAL M1, M2 AND M3 GREW BY 3.6 PER PER CENT AND 18.1 PER CENT RESPECTIVELY,

LOANS AND ADVANCES

CENT, 19.0

TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS DECLINED BY 0.5 PER CENT IN MARCH, FOLLOWING A DECLINE OF 0.8 PER CENT IN JANUARY AND AN INCREASE OF 7.0 PER CENT IN FEBRUARY.

OF THE TOTAL OUTSTANDING LOANS, THOSE DENOMINATED IN HONG KONG IN DOLLARS GREW BY 1.7 PER CENT DURING MARCH WHILE THOSE DENOMINATED FOREIGN CURRENCIES DECREASED BY 1.9 PER CENT.

LOANS TO FINANCE VISIBLE TRADE OF HONG KONG FELL BY 0.6 PER CENT IN MARCH, FOLLOWING A DECLINE OF 0.8 PER CENT IN JANUARY AND AN INCREASE OF 1.7 PER CENT IN FEBRUARY. OVER THE YEAR, THESE LOANS GREW BY 9.5 PER CENT.

OTHER LOANS FOR USE IN HONG KONG GREW BY 1.9 PER CENT IN MARCH COMPARED WITH INCREASES OF 2.5 PER CENT AND 1.3 PER CENT IN JANUARY AND FEBRUARY RESPECTIVELY, OVER THE YEAR, THESE LOANS GREW BY 21.6 PER CENT.

CENT IN INCREASE

LOANS FOR USE OUTSIDE HONG KONG DECREASED BY 1.3 PER MARCH, FOLLOWING A DECLINE OF 3.9 PER CENT IN JANUARY AND AN OF 17.3 PER CENT IN FEBRUARY. OVER THE YEAR, THESE LOANS GREW BY PER CENT.

30.3

LOANS TO FINANCE MERCHANDISING TRADE NOT TOUCHING HONG KONG ROSE BY 11.7 PER CENT IN MARCH, AFTER DECLINES OF 22.0 PER CENT AND 0.1 PER CENT IN JANUARY AND FEBRUARY RESPECTIVELY. OVER THE YEAR, THESE LOANS DECLINED BY 23.6 PER CENT.

IN TERMS OF RELATIVE SHARE, HOWEVER, THESE LOANS ACCOUNTED ONLY A SMALL PROPORTION OF TOTAL LOANS.

FOR

/QUARTERLY ANALYSIS