Financial Conditions (August 2021)

Monetary Aggregates   For the month of August 2021, the monthly growth rates of the monetary aggregates M1B and M2 (measured on a daily average basis) were 0.91% and 0.76%, respectively, both higher than those of the previous month. The annual growth rates of M1B and M2 decreased to 15.39% and 8.44%, respectively, amid a higher base and  slower deposit money growth. For the first eight months of this year, the average annual growth rates of M1B and M2 were 17.42% and 8.91%, respectively.

Loans and Investments of Financial Institutions   At the end of August 2021, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.80%, higher than that at the end of the previous month. Meanwhile, the annual growth rate increased from 7.59% at the end of the previous month to 7.87% mainly because of faster growth in bank claims on the government. If loans and investments extended by life insurance companies and non-accrual loans reclassified and bad loans written off by monetary financial institutions were all taken into account, the total outstanding loans and investments of financial institutions would show an annual growth rate of 6.90%, higher than the 6.82% registered at the end of the previous month. 

Notes: 1. The next Financial Conditions (September 2021) is scheduled for release at 16:20 on October 25, 2021.

           2. For the release schedule for the coming months, please check the Advance Release Calendar.