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Press Releases

Financial Conditions (July 2017)

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                  Release Date: August 24, 2017              

Financial Conditions (July 2017)

Monetary Aggregates   For the month of July 2017, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.19% and 0.44%, respectively, both higher than those of last month. The annual growth rate of M1B increased to 4.96% mainly because of faster growth in demand deposits, whereas the annual growth rate of M2 decreased to 3.60% mainly because of net foreign capital outflows and slower growth in bank loans and investments. For the first seven months of this year, the average annual growth rates of M1B and M2 were 4.75% and 3.70%, respectively.

Direct and Indirect Finance   At the end of July, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.40%, higher than that at the end of the previous month. Meanwhile, the annual growth rate decreased from 4.76% at the end of the previous month to 4.72% mainly because of slower growth in bank claims on the government. If (1) loans and investments extended by life insurance companies, (2) non-accrual loans reclassified and bad loans written off by monetary financial institutions, and (3) funds raised directly from capital markets were all taken into account, the total outstanding amount of funds raised by the non-financial sector would show an annual growth rate of 3.59%, lower than the 3.63% registered at the end of the previous month.



1. The next Financial Conditions (August 2017) is scheduled for release at 16:20 on September 25, 2017.

2. For the release schedule for the coming months, please check the CBC website at http://www.cbc.gov.tw/ct.asp?xItem=30164&ctNode=515&mp=2 .

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