3.7
During the third quarter, loans and advances extended by banks and deposit-taking companies together to finance Hong
Kong's
exports and re-exports rose marginally to
$25,089 million while loans to finance merchandising, i.e.
third country, trade rose by 4% to $2,891 million.
imports,
Net spot foreign currency position
3.8
There was an increase during the third quarter of
$63.1 billion, to give a total of $532.1 billion, in the spot
foreign currency liabilities of the monetary sector and an
increase of $61.0 billion, to give a total of $518.7 billion,
in its spot foreign currency assets. Thus, the monetary
sector as a whole had net spot foreign currency liabilities at
the end of September of $13.4 billion, comprising $5.4 billion
liabilities of banks and $8.1 billion of deposit-taking
companies.
Interest rates
3.9
September
Interest rates declined in the three months to (5)
as the growth rate of the demand for credit in
/ Hong Kong
(5)
As at end of
Interest Rates (% p.a.)
HKAB:Interest Interest rates
rates paid on paid on 3-month 3-month
3-month deposits with a money market deposits with representative
(interbank)
The Best Lending Rate charged by the note-
banks
dtc
rate
Interest rates paid on 3-month Eurodollar
issuing banks deposits
1981 Dec
1982 Jan 12 1/2
12 1/2
14
13 5/8
16
13 7/8
14 1/4
14 1/4
16
14 5/8
Feb
12 1/2
14 5/8
14 13/16
16
15 1/16
Mar
12 1/2
14 3/4
15 5/16
16
16
Apr 12 1/2
14 5/8
14 7/8
16
14 7/8
May
11 1/2
14 3/8
14 5/16
15
14 3/8
Jun
11 1/2
14
14 1/8
15
16
Jul
11
11 3/4
11 1/2
14
12 7/8
Aug
9
9
9 1/4
12
Sep
9
9 1/2
10 7/16
12
22
11 9/16
11 7/16
15
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