Financial Conditions (May 2014)
PRESS RELEASE Release Date: June 25, 2014
Financial Conditions (May 2014)
Monetary Aggregates For the month of May 2014, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 0.10% and 0.27%, respectively. Compared to the previous month, the M1B monthly growth rate was higher, while the M2 monthly growth rate was lower. The annual growth rates of M1B and M2 decreased to 8.14% and 5.91%, respectively, mainly owing to a decrease in net foreign capital inflows in May and a higher base in the previous year resulting from a more active stock market. For the first five months of this year, the average annual growth rates of M1B and M2 were 8.93% and 5.92%, respectively.
Direct and Indirect Finance At the end of May, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.19%, lower than that at the end of the previous month. Meanwhile, the annual growth rate increased from 4.99% at the end of the previous month to 5.18%, mainly owing to faster growth in bank claims on the government. 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 5.15%, higher than the 4.99% registered at the end of the previous month.
Notes:
1. The next Financial Conditions (June 2014) is scheduled for release at 16:20 on July 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 .