Central Bank of the Republic of China (Taiwan)
PRESS RELEASE Release Date: September 24, 2015
Financial Conditions (August 2015)

Monetary Aggregates     For the month of August 2015, the monthly growth rates of the monetary aggregates M1B and M2, measured on a daily average basis, were 1.39% and 0.57%, respectively, both higher than those of last month. The annual growth rate of M1B increased to 5.86%, mainly because of greater increases in demand deposits resulting from cash dividend distribution, whereas the annual growth rate of M2 decreased to 6.01%, mainly because of continuous net foreign capital outflows. For the first eight months of this year, the average annual growth rates of M1B and M2 were 5.83% and 6.36%, respectively.
Direct and Indirect Finance     At the end of August, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.71%, lower than that at the end of the previous month. Meanwhile, the annual growth rate increased from 4.01% at the end of the previous month to 4.41%, mainly because of 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 2.46%, higher than the 2.43% registered at the end of the previous month.

Notes:
1. The next Financial Conditions (September 2015) is scheduled for release at 16:20 on October 23, 2015.
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 .