Financial Conditions (November 2006)
PRESS RELEASE Release Date: December 25, 2006
Financial Conditions (November 2006)
Monetary Aggregates For the month of November 2006, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 6.01%, 5.81%, and 5.97%, respectively. The lower M1A and M1B growth rates compared with the previous month were mainly due to enterprises and individuals transferring part of their demand deposits to time deposits. The M2 growth rate edged up mainly owing to net foreign capital inflows. For the first eleven months of this year, the average annual growth rates of M1A, M1B, and M2 were 5.75%, 5.29%, and 6.25%, respectively.
Direct and Indirect Finance At the end of November, the annual growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions, including monetary institutions, the Chunghwa Post Co., as well as money market mutual funds, fell from 4.80% at the end of the previous month to 4.51%. This was mainly due to the higher base of the corresponding month of the previous year. 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 4.78%, higher than the 4.73% at the end of the previous month.
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Notes: 1.The upcoming Financial Conditions (December 2006) is scheduled for release at 16:20 on January 25, 2007.
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.