Financial Conditions (July 2009)
PRESS RELEASE Release Date: August 25, 2009
Financial Conditions (July 2009)
Monetary Aggregates For the month of July 2009, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.58% and 0.13%, both higher than those of last month. Due to the steady transfer of funds from time and savings deposits to demand deposits, the annual growth rate of M1B rose to 20.64%. The M2 annual growth rate climbed to 8.33%, due to continuous net capital inflows. For the first seven months of this year, the average annual growth rates of M1B and M2 were 9.91% and 7.18%, respectively.
Direct and Indirect Finance At the end of July, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was –0.32%, higher than that of the previous month. Meanwhile, the annual growth rate declined from 0.14% at the end of the previous month to -0.50%. The decline was mainly due to the decrease of growth 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, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 0.15%, lower than the 0.34% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (August 2009) is scheduled for release at 16:20 on September 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 .