Central Bank of China
PRESS RELEASE Release Date: September 24, 2004



Financial Conditions (August 2004)
Monetary Aggregates For the month of August 2004, the annual growth rates of the monetary aggregates M1A, M1B and M2, measured on a daily average basis, were 24.41%, 18.04%, and 7.31%, respectively. These growth rates were lower than those recorded in the previous month mainly due to the relatively higher base of last year. Meanwhile, the annual growth rate of M2 plus bond funds held by the general public also fell from 8.69% to 7.47%.

Direct and Indirect Finance At the end of August, the annual growth rate of total outstanding loans and investments of major financial institutions, including monetary institutions and the Chunghwa Post Co., rose from 6.19% in the previous month to 6.74% mainly due to the increase in bank loans to households and private enterprises. If(1)loans and investments extended by life insurance companies and investment and trust companies,(2)non-accrual loans reclassified and bad loans written-off by major financial institutions, and(3)funds raised directly from capital markets were all taken into account, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 8.97%, higher than the 8.92% posted in July.




Notes: 1. The upcoming Financial Conditions (September 2004) is scheduled for release at 16:20 on October 25, 2004.

2. For the release schedule for the next six months, please check the CBC website at http://www.cbc.gov.tw/EngHome/ESSDS/calacal.htm



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