Financial Conditions (July 2010)
PRESS RELEASE Release Date: August 25, 2010
Financial Conditions (July 2010)
Monetary Aggregates For the month of July 2010, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 0.93% and 0.42%, respectively, both higher than those of last month. The annual growth rate of M1B declined to 12.49%, mainly due to a higher base effect. The annual growth rate of M2 rose to 4.12%, because bank loans and investments continued to grow. For the first seven months of this year, the average annual growth rates of M1B and M2 were 18.52% and 4.38%, 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 0.56%, higher than that of the previous month. Meanwhile, the annual growth rate rose from 3.73% at the end of the previous month to 4.64%. The rise was mainly due to an increase in bank claims on the private sector. 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 4.72%, higher than the 4.05% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (August 2010) is scheduled for release at 16:20 on September 24, 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 .