Financial Conditions (December 2009)
PRESS RELEASE Release Date: January 25, 2010
Financial Conditions (December 2009)
Monetary Aggregates For the month of December 2009, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.77% and 0.57%, both higher than those of last month. The annual growth rate of M1B rose to 30.30% mainly due to the steady transfer of funds from time and savings deposits to demand deposits. The M2 annual growth rate declined to 5.99% due to a higher base effect. For the entire year, the average annual growth rates of M1B and M2 were 16.54% and 7.21%, respectively.
Direct and Indirect Finance At the end of December, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 1.36%, higher than that of the previous month. Meanwhile, the annual growth rate increased from -0.62% at the end of the previous month to 0.73%. The increase was mainly due to a rise of bank claims on governments and a moderate decline of 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 the non-financial sector would show an annual growth rate of 1.63%, higher than the 0.91% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (January 2010) is scheduled for release at 16:20 on February 26, 2010.
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 .