TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 250

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companies, offset by eight revocations by the Commissioner of

Deposit-taking Companies, eight companies taking up their new

status and starting to operate as licensed deposit-taking companies, and six further revocations by the Commissioner at the end of the first half in response to requests for doing

so, mostly due to inability to meet the minimum paid-up capital requirement of $10 million. In total, the number of

deposit-taking institutions operating at the end of June was 484, compared with 489 at the end of 1982.

Money supply

3.4

(2)

With the exception of Ml, the growth rate of total

(i.e. all currencies) money supply

money supply slowed

slowed down

down during the

/first

The Definitions of the Money Supply are:

(2)

M1

Total

M2 Total

M3

Total

Notes and coins with the public, plus customers' demand deposits with licensed banks.

M1 plus customers' savings and time deposits with licensed banks, plus negotiable certificates of deposit issued by licensed banks and held outside the monetary sector.

M2 plus customers' deposits with licensed and registered deposit-taking companies plus negotiable certificates of deposit issued by deposit-taking companies and held outside the monetary sector.

HK$M1, HK$M2 and HK$M3 are the Hong Kong dollar components of these definitions.

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