Financial Conditions (December 2005)
PRESS RELEASE Release Date: January 25, 2006
Financial Conditions (December 2005)
Monetary Aggregates For the month of December 2005, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 6.67%, 6.56%, and 6.64%, respectively. All of these growth rates were higher than those recorded in the previous month. This was mainly due to active trading in the stock market and a substantial increase in net foreign capital inflow. After adjusting for the sale of its trust business by the Taiwan Development and Trust Corporation (TDTC) to a domestic bank, the growth rate of M2 was 6.59%. For the whole year, M1A, M1B, and M2 exhibited average annual growth rates of 7.65%, 7.10%, and 6.22%, respectively.
Direct and Indirect Finance At the end of December, the annual growth rate of total outstanding loans and investments of major financial institutions, including monetary institutions, the Chunghwa Post Co., as well as money market mutual funds, fell from 7.93% at the end of the previous month to 7.68%. This was mainly due to a smaller increase in bank claims on the private sector compared to the corresponding month of last year. After adjusting for the sale of its trust business by the TDTC to a bank, the growth rate was 7.61%. 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 6.96%, higher than the 6.43% posted in the previous month.
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Notes: 1.The upcoming Financial Conditions (January 2006) is scheduled for release at 16:20 on February 24, 2006.
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.