Financial Conditions (July 2007)
PRESS RELEASE Released Date: August 24, 2007
Financial Conditions (July 2007)
Monetary Aggregates For the month of July 2007, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 5.93%, 9.14%, and 4.65%, respectively. Compared to the previous month, M1A growth rate remained unchanged, while M1B and M2 growth rates were both higher mainly due to active trading in the stock market and a steady growth in bank credit. For the first seven months of this year, the average annual growth rates of M1A, M1B, and M2 were 7.39%, 7.36%, and 5.16%, respectively.
Direct and Indirect Finance At the end of July, the annual growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions rose from 3.19% at the end of the previous month to 4.00%. This was mainly due to a lower comparison basis of last year and an increase in bank claims on the private sector. 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 4.47%, also higher than the 3.71% at the end of the previous month.
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Notes: 1.The upcoming Financial Conditions (August 2007) is scheduled for release at 16:20 on September 27, 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.