Financial Conditions (August 2006)
PRESS RELEASE Release Date: September 25, 2006
Financial Conditions (August 2006)
Monetary Aggregates For the month of August 2006, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 3.18%, 2.77%, and 5.43%, respectively. All of these growth rates were lower than those recorded in the previous month. This was mainly due to a weaker growth in bank loans and investments. For the first eight months of this year, the annual growth rates of M1A, M1B, and M2 were 5.74%, 5.22%, and 6.38%, respectively.
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, the Chunghwa Post Co., as well as money market mutual funds, fell from 6.49% at the end of the previous month to 6.08%. This was mainly due to a sustained decrease in bank loans to government agencies. After excluding the change in the fair value of banks’ portfolio investments, the growth rate of bank loans and investments also fell from 5.90% in July to 5.49%. 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 change in the fair value of banks’ portfolio investments was excluded, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 4.76%, lower than the 5.39% at the end of the previous month.
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Notes: 1.The upcoming Financial Conditions (September 2006) is scheduled for release at 16:20 on October 25, 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.