Financial Conditions (September 2013)
PRESS RELEASE Release Date: October 25, 2013
Financial Conditions (September 2013)
Monetary Aggregates For the month of September 2013, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 0.37% and 0.31%, respectively, both lower than those of last month. The annual growth rate of M1B decreased to 8.05%, mainly owing to a higher base effect because of brisk trading in the stock market last year, as well as a shift from demand deposits to foreign currency deposits. The annual growth rate of M2 increased to 5.54%, mainly owing to higher growth in bank loans and investments and net foreign capital inflows. For the first nine months of this year, the average annual growth rates of M1B and M2 were 6.81% and 4.39%, respectively.
Direct and Indirect Finance At the end of September, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.45%, higher than that at the end of the previous month. Meanwhile, the annual growth rate increased from 5.75% at the end of the previous month to 5.90%, mainly owing to faster 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 5.05%, higher than the 4.88% registered at the end of the previous month.
Notes: 1. The next Financial Conditions (October 2013) is scheduled for release at 16:20 on November 25, 2013.
2. For the release schedule for the upcoming months, please check the CBC website at
http://www.cbc.gov.tw/ct.asp?xItem=30164&ctNode=515&mp=2 .