Financial Conditions (February 2011)
PRESS RELEASE Release Date: March 25, 2011
Financial Conditions (February 2011)
Monetary Aggregates For the month of February 2011, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.20% and 0.95%, respectively, both lower than those of last month. This was mainly due to a net capital outflow. The annual growth rates of M1B and M2 rose to 9.40% and 6.12%, respectively, mainly due to continuous growth of bank loans. For the first two months of this year, the average annual growth rates of M1B and M2 were 9.38% and 5.86%, respectively.
Direct and Indirect Finance At the end of February, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 0.25%, lower than that of the previous month. Meanwhile, the annual growth rate declined from 7.65% at the end of the previous month to 7.63%. The decline was mainly due to slowing growth of bank claims on government enterprises and 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 6.02%, lower than the 6.16% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (March 2011) is scheduled for release at 16:20 on April 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 .