Financial Conditions (January 2011)
PRESS RELEASE Release Date: February 25, 2011
Financial Conditions (January 2011)
Monetary Aggregates For the month of January 2011, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.99% and 1.24%, respectively, both higher than those of last month. The annual growth rates of M1B and M2 rose to 9.35% and 5.59%, respectively, mainly due to an increase of currency issuance because of the Chinese New Year holidays, and continuous growth of bank loans and investments. After adjusting for seasonal factors, the annual growth rates of M1B and M2 were 8.95% and 5.49%, respectively.
Direct and Indirect Finance At the end of January, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 1.65%, higher than that of the previous month. Meanwhile, the annual growth rate rose from 6.19% at the end of the previous month to 7.62%. The rise was mainly due to expanded growth of bank claims on the private sector and government. 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 6.15%, higher than the 5.47% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (February 2011) is scheduled for release at 16:20 on March 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 .