Financial Conditions (March 2009)
PRESS RELEASE Release Date: April 24, 2009
Financial Conditions (March 2009)
Monetary Aggregates For the month of March 2009, the monthly growth rates of the monetary aggregates M1B and M2 were 1.91% and 0.44%, respectively. Compared to the previous month, the M1B monthly growth rate was higher, while the M2 monthly growth rate was lower. The annual growth rates of M1B and M2, measured on a daily average basis, were 5.44% and 6.39%, respectively, both higher than those of the previous month, mainly due to active trading in the stock market and continuous net capital inflows. For the first three months of this year, the average annual growth rates of M1B and M2 were 3.31% and 6.58%, respectively.
Direct and Indirect Finance At the end of March, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 0.07%, higher than that of the previous month. Meanwhile, the annual growth rate declined from 2.47% at the end of the previous month to 2.37%. The decline was mainly due to a decrease in bank claims on private sectors. 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 1.32%, lower than the 1.75% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (April 2009) is scheduled for release at 16:20 on May 25, 2009.
2. For the release schedule for the next six months, please check the CBC website at
http://www.cbc.gov.tw/ct.asp?xItem=30164&ctNode=515&mp=2 .