Financial Conditions (March 2010)
PRESS RELEASE Release Date: April 26, 2010
Financial Conditions (March 2010)
Monetary Aggregates For the month of March 2010, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were -1.09% and -0.01%, respectively, both lower than those of last month. The annual growth rates of M1B and M2 were 21.57% and 4.58%, respectively, both lower than those of the previous month. This was mainly due to slowing growth in bank credit and a higher base effect. For the first three months of this year, the average annual growth rates of M1B and M2 were 24.31% and 5.02%, 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 -0.45%, lower than that of the previous month. Meanwhile, the annual growth rate declined from 1.97% at the end of the previous month to 1.40%. The decline was mainly due to a decrease in bank claims on government agencies and enterprises. If (1) loans and investments extended by life insurance 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 2.83%, slightly lower than the 2.84% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (April 2010) is scheduled for release at 16:20 on May 25, 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