Financial Conditions (September 2007)
PRESS RELEASE Released Date: October 25, 2007
Financial Conditions (September 2007)
Monetary Aggregates For the month of September 2007, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 7.00%, 6.37%, and 3.47%, respectively. All of these growth rates were lower than those recorded in the previous month. This was mainly due to a slower growth of bank credit and the continued net outflow of capital. For the first nine months of this year, the average annual growth rates of M1A, M1B, and M2 were 7.33%, 7.39%, and 4.87%, respectively.
Direct and Indirect Finance At the end of September, the annual growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions fell from 3.77% at the end of the previous month to 3.31%. This was mainly due to a smaller growth of bank claims on private sector and a decrease in government bonds held by banks. 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 4.00%, also lower than the 4.32% at the end of the previous month.
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Notes: 1.The upcoming Financial Conditions (October 2007) is scheduled for release at 16:20 on November 26, 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.