Central Bank of China

PRESS RELEASE Release Date: October 24, 2003




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Financial Conditions (September 2003)

Monetary Aggregates For the month of September 2003, the annual growth rates of the monetary aggregates M1A, M1B and M2, measured on a daily average basis, were 12.67%, 16.16%, and 4.88%, respectively. All three measures were higher than those recorded in the previous month mainly due to the increase of foreign capital inflows and the growth of bank loans and investments. In addition, M2 plus bond funds held by the general public also rose at an annual rate of 6.18%.

Direct and Indirect Finance At the end of September, the annual growth rate of total outstanding loans and investments in major financial institutions, including monetary institutions and the Chunghwa Post Co., rose from 1.84% at the end of the previous month to 2.11%. This was mainly due to the increase of the bank loans to government agencies. 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 amount of funds raised by non-financial sectors showed an annual growth rate of 4.96%, higher than the 4.67% posted in August.



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Notes: 1. The upcoming Financial Conditions (October 2003) is scheduled for release at 16:20 on November 25, 2003.

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


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