Financial Conditions (January 2012)
PRESS RELEASE Release Date: February 24, 2012
Financial Conditions (January 2012)
Monetary Aggregates Based on the new definition, in which structured products issued by banks are excluded from monetary aggregate M2, for the month of January 2012, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 2.33% and 1.43%, respectively, both higher than those of last month. The annual growth rates of M1B and M2 rose to 3.86% and 5.22%, respectively. This was mainly caused by a stronger demand for funds because of the Chinese New Year holidays and net foreign capital inflows.
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 monetary financial institutions (previously named as major financial institutions) was 0.90%, higher than that of the previous month. Meanwhile, the annual growth rate declined from 6.00% at the end of the previous month to 5.20%. The decline was mainly due to the slowing growth in bank claims on the private sector and government enterprises. If (1) loans and investments extended by life insurance companies, (2) non-accrual loans reclassified and bad loans written off by monetary 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 4.42%, lower than the 5.06% registered at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (February 2012) is scheduled for release at 16:20 on March 26, 2012.
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 .