Financial Conditions (February 2007)
PRESS RELEASE Release Date: March 26, 2007
Financial Conditions (February 2007)
Monetary Aggregates For the month of February 2007, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 9.39%, 7.35%, and 5.64%, respectively. All of these growth rates were higher than those recorded in the previous month. This was mainly due to a substantial increase in currency demand prior to the Chinese New Year holidays, and a steady growth of bank credit. After adjusting for seasonal factors, the annual growth rates of M1A, M1B, and M2 were 8.11%, 6.68%, and 5.40%, respectively. For the first two months of this year, the average annual growth rates of M1A, M1B, and M2 were 6.51%, 5.89%, and 5.38%, respectively.
Direct and Indirect Finance At the end of February, the annual growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions, rose from 3.40% at the end of the previous month to 4.00%. This was mainly due to the lower base of the corresponding month of the previous year. After adjusting for seasonal factors, the growth rate of bank loans and investments was 3.96%. 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 4.07%, higher than the 3.82% at the end of the previous month. Tables & Graphs [ XLS ]
Notes: 1.The upcoming Financial Conditions (March 2007) is scheduled for release at 16:20 on April 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.