Financial Conditions (February 2006)
PRESS RELEASE Release Date: March 24, 2006
Financial Conditions (February 2006)
Monetary Aggregates For the month of February 2006, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 5.95%, 5.58%, and 6.52%, respectively. All of these growth rates were lower than those recorded in the previous month. This was mainly due to a strong seasonal currency demand prior to the Chinese New Year holidays in the corresponding month of last year, and a slackening growth of bank loans and investments, as well as a decrease in net foreign capital inflow. For the first two months of this year, the growth rates of M1A, M1B, and M2 were 7.90%, 6.97%, and 6.86%, respectively.
Direct and Indirect Finance At the end of February, 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 8.78% at the end of the previous month to 8.42%. This was mainly due to a decrease in bank claims on the private sector. After excluding the fair valuation changes in bank portfolio investments, the growth rate of bank loans and investments also fell from 8.31% of last month to 7.92%. 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, while excluding the fair valuation changes in bank portfolio investments, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 7.04%, lower than the 7.20% posted in the previous month.
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Notes: 1.The upcoming Financial Conditions (March 2006) is scheduled for release at 16:20 on April 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.