Financial Conditions (February 2008)
PRESS RELEASE Release Date: March 25, 2008
Financial Conditions (February 2008)
Monetary Aggregates For the month of February 2008, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were -0.10%, -1.84%, and 1.43%, respectively. Compared to the previous month, the M1A and M1B growth rates were lower mainly because enterprises and individuals transferred part of their demand deposits to time deposits. The M2 growth rate was higher than that of the previous month due to substantial net foreign capital inflow. After adjusting for the merger of China United Trust and Investment Corporation and Cathay United Bank, the M2 growth rate was 1.40%. For the first two months of this year, the average annual growth rates of M1A, M1B, and M2 were 1.55%, -1.08%, and 1.24%, 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 declined from 2.87% at the end of the previous month to 1.94%. The decline was mainly due to a decrease in bank claims on private enterprises. After adjusting for the merger of China United Trust and Investment Corporation and Cathay United Bank, the annual growth rate became 1.67%. 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, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 2.99%, lower than the 3.49% at the end of the previous month.
Tables & Graphs [ XLS ] Notes: 1.The upcoming Financial Conditions (March 2008) is scheduled for release at 16:20 on April 25, 2008.
2.For the release schedule for the next six months, please check the CBC website at http://www.cbc.gov.tw/EngHome/default.asp.