(5)
mostly
increase of 1.8%. Foreign currency deposits
denominated in US dollars, recorded a corresponding
increase of 19.1%, most of which reflects the valuation
effect of a weaker Hong Kong dollar.
Negotiable certificates of deposit
3.5
Negotiable certificates of deposit (NCDs) issued
in Hong Kong and held by the public count as part of the money supply in the broader definitions. These increased
by 2.3% during the third quarter,
third quarter, following
following increases of
5.5% and 1.0% during the first and second quarters
respectively; but these remained a barely significant part
of the money supply. The limited specification of NCDs
issued by banks and licensed deposit-taking companies as
liquid assets, commencing 1 April this year, probably
explains the greater proportion of such NCDS that were held by deposit-taking institutions 54.5% at the end of September, compared with 50.0% at the end of March (6).
-
(5)
/ Loans
Quarterly growth rates of deposits
with banks and deposit-taking companies (%)
Total
HK$
Foreign currencies
1982 04
4.8
0.4
11.7
1983 Q1
3.8
-1.4
10.9
02
4.8
-1.7
12.6
Q3
10.2
1.8
19.1
As at end of
September
1983 ($mn)
280,412
133,627
146,785
(6)
NCDs issued
by banks and
Held by
As at end
licensed (but not
banks and
the
of
registered) dtcs
dtcs
Held outside
monetary sector
($mn)
($mn)
($mn)
1983 Mar
10,330
5,141
5,189
Jun
11,389
6,123
5,266
Sep
12,077
6,582
5,495
19
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