Financial Conditions (September 2009)
PRESS RELEASE Release Date: October 26, 2009
Financial Conditions (September 2009)
Monetary Aggregates For the month of September 2009, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.23% and 0.17%, both lower than those of last month. The annual growth rate of M1B rose to 23.51%, mainly due to the steady transfer of funds from time and savings deposits to demand deposits. The M2 annual growth rate rose to 8.28%, because foreign capital flow turned into a net inflow. For the first nine months of this year, the average annual growth rates of M1B and M2 were 12.72% and 7.41%, respectively.
Direct and Indirect Finance At the end of September, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 0.27%, higher than that of the previous month. Meanwhile, the annual growth rate declined from -0.82% at the end of the previous month to –1.27%. The decline was mainly due to a higher base effect. 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 0.33%, lower than the 0.35% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (October 2009) is scheduled for release at 16:20 on November 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 .