TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 197

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the same period: with interest rates still relatively high, there was a decline in current accounts with banks, and by the

end of March the seasonal expansion in the note issue to cover

the requirements of Christmas and of the Lunar New Year had been almost entirely withdrawn.

3.8

The total of negotiable certificates of deposit in

issue and outstanding continued to rise during the first

There was a particularly marked increase in

certificates

in foreign

(8).

quarter

negotiable

currencies.

of deposit denominated

/ Loans

As at the end

of quarter

NCDS issued and outstanding

of which

Total

in HK$

by banks

(8) Negotiable certificates of deposit (NCDs) issued by

deposit-taking companies in Hong Kong ($mn):

Locally-issued NCDs held by banks & dtcs

Locally-issued

NCDS held outside the monetary sector

of which

in HK$ Total

of which

in HK$

and

Total

1981 Q1

aaaa

3,245

2,049

1,529

1,107 1,716

942

Q2

3,717

2,293

1,777

1,257

1,940

1,036

Q3 4,813 2,675

2,209

1,461 2,604

1,214

Q4

6,235 3,543

2,868

1,797

3,366

1,747

1982 Q1 7,384 4,002

3,592

2,094

3,792

1,908

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