XN000022-1994-03-24 — Page 3

THURSDAY, MARCH 24, 1994

2

RESIDENTIAL MORTGAGE SURVEY RESULTS FOR FEBRUARY

THE

LOANS DECELERATED OF THE

GROWTH

OF RESIDENTIAL. MORTGAGE RATE SLIGHTLY IN FEBRUARY, ACCORDING TO THE LATEST MONTHLY SURVEY HONG KONG MONETARY AUTHORITY (HKMA}.

PER

MORTGAGE LENDING BY THE 33 THE

OF RESIDENTIAL AMOUNT INSTITUTIONS IN THE SURVEY GREW BY 1.0 PER CENT IN FEBRUARY (1.2 CENT IN JANUARY), FROM $221.7 BILLION TO $224 BILLION.

THIS IS BELOW THE AVERAGE MONTHLY GROWTH RATE OF 1.5 PER OVER THE LAST 12 MONTHS.

CENT

SEASONAL "THE FEBRUARY FIGURES SEEM TO HAVE BEEN INFLUENCED BY

ANNOUNCED BY FACTORS AS WELL AS BY THE FURTHER TIGHTENING MEASURES CERTAIN BANKS IN JANUARY, THE DEPUTY CHIEF EXECUTIVE (BANKING) OF THE HKMA, MR DAVID CARSE, SAID.

++

HOWEVER, "SOME

BANKS, LENDING IN FEBRUARY," HE SAID.

SAW CONTINUED RAPID

GROWTH

IN THEIR

THE THREE-MONTH MOVING AVERAGE OF OUTSTANDING LENDING HAS RISEN

PER CENT (ANNUALISED), COMPARED WITH 12.0 PER

то 12.2 THREE-MONTH PERIOD TO JANUARY.

CENT IN THE

THE

12-MONTH

AVERAGE

OF OUTSTANDING

LENDING

STANDS

AT AN 16.1 PER

ANNUALISED GROWTH RATE OF 17.3 PER CENT, HAVING RISEN FROM CENT IN JANUARY.

NEW LOANS APPROVED BUT NOT YET DRAWN FELL IN FEBRUARY FROM $6.5 BILLION TO $5.3 BILLION.

THESE

FIGURES, I EXPECT

THAT

AMOUNT

OF AS IN

THE "JUDGING FROM OUTSTANDING LENDING WILL RISE IN MARCH AT ABOUT THE SAME RATE FEBRUARY," MR CARSE SAID.

A RENEWED UPSURGE IN DEMAND BY BORROWERS "HOWEVER,

HE SAID. RULED OUT AND BANKS SHOULD THEREFORE REMAIN CAUTIOUS,

CANNOT BE

"I

AS REGARDS LENDING FOR THE PURCHASE OF PROPERTIES IN CHINA, THE

BY 1.5 THAT SHOW LATEST

PER CENT SUCH LENDING ROSE FIGURES FEBRUARY, FROM $3.66 BILLION TO $3.71 BILLION.

IN

THE

INCREASE WAS

ENTIRELY ATTRIBUTABLE PURCHASE OF RESIDENTIAL PROPERTIES.

TO

LOANS FOR

THE

GROSS LOANS MADE IN FEBRUARY FELL BOTH IN NUMBERS (FROM 307 203) AND IN AMOUNT (FROM $116 MILLION TO $101 MILLION).

ΤΟ

NEW LOANS APPROVED ALSO DROPPED IN TERMS OF BOTH NUMBERS 435 TO 223) AND AMOUNT (FROM $198 MILLION TO $107 MILLION).

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