CHAPTER 3: THE FINANCIAL SECTOR
Introduction
3.1
Compared with the first half of 1982, the third quarter saw a general acceleration in the growth rate of the
money supply, but the growth rate of lending by banks and
deposit-taking companies slowed down slightly.
The behaviour
of particular monetary aggregates was still affected by
certain special factors mentioned in the Half-Yearly Economic
Report.
markets
Trading in the foreign exchange, stock and gold
was unsettled, under the influences of both economic
and political factors.
3.2
By the end of September 1982, the number of
deposit-taking institutions in operation had risen from 471 at
the end of December 1981 to 486, comprising 125 licensed
banks, 16 licensed deposit-taking companies and 345 registered
deposit-taking companies.
The money supply
3.3
(1)
As in the previous five quarters, in the third
quarter the growth rate of total money supply exceeded on all
/ definitions
The Definitions of the Money Supply are:
(1)
ΜΙ
Total
M2
-
Total
M3 Total
Notes and coins with the public, plus customers' demand deposits with licensed banks.
Ml 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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