Financial Conditions (April 2006)
PRESS RELEASE Release Date: May 25, 2006
Financial Conditions (April 2006)
Monetary Aggregates For the month of April 2006, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 4.84%, 5.45%, and 6.53%, respectively. All of these growth rates were higher than those recorded in the previous month. This was mainly due to a substantial growth in bank loans and investments as well as higher turnovers in the stock market and large net foreign capital inflows. For the first four months of this year, the annual growth rates of M1A, M1B, and M2 were 6.21%, 5.92%, and 6.60%, respectively.
Direct and Indirect Finance At the end of April, 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, rose from 7.25% at the end of the previous month to 7.79%. This was mainly due to an increase in bank claims on the private sector. After excluding the change in the fair value of bank portfolio investments, the growth rate of bank loans and investments also rose from 6.67% of last month to 7.10%. 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 and the fair valuation change in bank portfolio investments is ignored, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 6.53%, higher than the 6.20% posted in the previous month.
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Notes: 1.The upcoming Financial Conditions (May 2006) is scheduled for release at 16:20 on June 26, 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.