Financial Conditions (April 2014)
PRESS RELEASE Release Date: May 26, 2014
Financial Conditions (April 2014)
Monetary Aggregates For the month of April 2014, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were -0.09% and 0.31%, respectively, both lower than those of last month. The annual growth rates of M1B and M2 rose to 9.10% and 6.24%, respectively, mainly owing to higher growth in bank loans & investments and net foreign capital inflows. Furthermore, this was also affected by a lower base because the Taiwan Insurance Guaranty Fund transferred a deposit to one life insurance company (which is not included in the monetary aggregates) last year. For the first four months of this year, the average annual growth rates of M1B and M2 were 9.13% and 5.93%, respectively.
Direct and Indirect Finance At the end of April, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.65%, higher than that at the end of the previous month. Meanwhile, the annual growth rate increased from 4.55% at the end of the previous month to 4.98%, mainly owing to faster growth in bank claims on the government 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 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 4.98%, higher than the 4.73% registered at the end of the previous month.
Notes:
1. The next Financial Conditions (May, 2014) is scheduled for release at 16:20 on June 25, 2014.
2. For the release schedule for the coming months, please check the CBC website at
http://www.cbc.gov.tw/ct.asp?xItem=30164&ctNode=515&mp=2 .