XN000022-1996-05-24 — Page 6

Billion

4

RESIDENTIAL MORTGAGE LOANS IN HONG KONG (33 institutions)

Outstanding balance at end of month

290

280

270

260

250

240

230

220

210

200

190

160

12/92

12

12

6 12 4

A1

3/93 9 3/94 9 3/95 9 3/96

Remarks: The significant fall of outstanding balance in December 1994 was due to the

effect of reclassification, securitization and sale of loans by some institutions.

Monthly growth rate

2.8

2.6

2.4

2.2

2

1.8

1.6

1.4

1.2

0.8

0.6

0.41

0.2

-0.2

-0.4

3/93

9

3/94 12

9 3/95 9

12

3/96

12

A2

Chart A

3-month and 12-month moving average growth rate on annualised basis

35

30

25

20

15

10

M

3/93

3/94 12

3/95

12

12

3-month + 12-month

3/96

A3