Financial Conditions (November 2012)
PRESS RELEASE Release Date: December 25, 2012
Financial Conditions (November 2012)
Monetary Aggregates For the month of November 2012, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 0.16% and 0.29%, respectively, both higher than those of last month. The annual growth rate of M1B rose to 3.65%, mainly due to greater increases in passbook deposits resulting from foreign capital inflows. The annual growth rate of M2 declined to 3.26%, mainly due to a re-allocation of funds towards non-deposit products such as insurance and mutual funds. For the first eleven months of this year, the average annual growth rates of M1B and M2 were 3.32% and 4.22%, 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 monetary financial institutions was 0.44%, lower than that at the end of the previous month. Meanwhile, the annual growth rate rose from 4.91% at the end of the previous month to 4.97%, mainly due to expanded growth 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 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 4.19%, lower than the 4.38% registered at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (December 2012) is scheduled for release at 16:20 on January 25, 2013.
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 .