LOANS AND ADVANCES
MONDAY, OCTOBER 31, 1994
14
THE GROWTH
THE
BY
OF TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED AUTHORISED INSTITUTIONS FELL BY A MODEST 0.2% IN SEPTEMBER, LIKELY REFLECTING
THE RESTRAINING IMPACT ON CREDIT DEMAND OF RATE RISE IN LATE AUGUST.
PARTICULAR, IN
INTEREST
US DOLLARS LOANS DECLINED BY 0.2% WHILE THE GROWTH OF HONG KONG DOLLAR LOANS SLIPPED TO 0.8% FROM 1.4% IN AUGUST.
QUARTERLY ANALYSIS OF LOANS FOR USE IN HONG KONG BY SECTOR
DURING
IN
OF
USE THE SEPTEMBER QUARTER OF 1994, TOTAL LOANS FOR HONG KONG (EXCLUDING THOSE FOR TRADE FINANCING) INCREASED BY 2.6%.
FROM THESE, RESIDENTIAL MORTGAGE LOANS SLOWED DOWN MARKEDLY TO 1.2% 5.0% IN THE JUNE QUARTER, IN LINE WITH THE SUBDUED TRANSACTIONS IN THE PROPERTY MARKET IN RECENT MONTHS.
OUTSTANDING LOANS TO OTHER MAJOR ECONOMIC SECTORS SHOWED VARIED PERFORMANCE. LOANS TO BUILDING, CONSTRUCTION, PROPERTY DEVELOPMENT AND INVESTMENT AS WELL AS LOANS TO WHOLESALE AND RETAIL TRADE RECORDED STABLE GROWTH OF AROUND 5% DURING THE SEPTEMBER QUARTER, THEIR RESPECTIVE GROWTH IN THE PREVIOUS QUARTER.
SIMILAR
ΤΟ
LOANS TO THE MANUFACTURING SECTOR, HOWEVER, DECREASED MARGINALLY BY 0.1% AFTER TWO CONSECUTIVE QUARTERS OF STRONG GROWTH.
MONEY SUPPLY
HK$M1 ROSE MODESTLY BY 0.8% IN SEPTEMBER. FOR MOST OF THIS YEAR, INTEREST RATE RISES HAD INDUCED A SHIFTING OF NON-INTEREST BEARING MONEY BALANCES INTO TIME DEPOSITS.
HK$M2 AND HK$M3 BOTH GREW BY 2.3% IN SEPTEMBER, GREATER THAN IN AUGUST. HOWEVER, THEIR ANNUAL GROWTH RATES FAIRLY STABLE SINCE MARCH, RANGING FROM 20% TO 26%.
NUMBER OF REPORTING INSTITUTIONS
SLIGHTLY REMAINED
LICENSED
OF
THE NUMBER OF REPORTING LICENSED BANKS AND RESTRICTED BOTH INCREASED BY ONE TO 176 AND 60 RESPECTIVELY WHILE THAT DEPOSIT-TAKING COMPANIES REMAINED UNCHANGED AT 138.
BANKS
NOTES TO EDITORS:
THE PRESS AND
TELEPHONE
FOR FURTHER PRESS ENQUIRIES, PLEASE CONTACT PUBLICATIONS SECTION, HONG KONG MONETARY AUTHORITY ON 878 8261.
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