Financial Conditions (November 2010)
PRESS RELEASE Release Date: December 24, 2010
Financial Conditions (November 2010)
Monetary Aggregates For the month of November 2010, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 0.93% and 0.77%, respectively, both higher than those of last month. The annual growth rate of M1B declined to 9.18% mainly due to a higher base effect. The annual growth rate of M2 rose to 5.20% due to continuous growth of bank loans and investments. For the first eleven months of this year, the average annual growth rates of M1B and M2 were 15.56% and 4.54%, respectively.
Direct and Indirect Finance At the end of November, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 0.88%, higher than that of the previous month. Meanwhile, the annual growth rate rose from 5.96% at the end of the previous month to 6.33%. 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 5.52%, higher than the 5.23% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (December 2010) is scheduled for release at 16:20 on January 25, 2011.
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 .