Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Alan Au
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
515.5995

Press Releases

Monetary Statistics for December 1996

According to statistics published today (Friday, 31 January) by the Hong Kong Monetary Authority, both deposits and loans and advances decreased slightly during December 1996. Table 1 summarises figures for December 1996 and comparisons with earlier months.

Deposits

. Total deposits fell by 1.1% in December 1996, reversing the rise of 3.6% in November. This resulted from decreases in both HK$ deposits and foreign currency deposits of 1% and 1.1% respectively.

The decrease in HK$ deposits was led by the decline in time deposits, which outweighed rises in both demand and savings deposits. Having surged by 6.6% in November due to placements of new share subscription money, time deposits fell by 3.5% in December. On the other hand, savings deposits grew further by 2.5% in December, following a rise of 4.1% in November, while demand deposits reversed the 2.2% drop in November and registered an increase of 8.6% in December. The growth pattern of deposits in recent months had been affected by the active asset market activities.

The 1.1% fall in foreign currency deposits was due to a decrease of 2.7% in US$ deposits, which more than offset an increase of 0.5% in non-US$ foreign currency deposits. The latter edged up in December after falling for four months in a row.

Loans and Advances

Total loans and advances fell slightly by 0.2% in December, following a rise of 2.5% in November. Domestic credit decreased by 0.5% in December, as a 1.2% increase in loans for trade financing was outweighed by a 0.7% fall in other loans for use in Hong Kong. The fall in the latter was, however, largely the result of the high base of comparison at end-November, which was boosted by loans for share subscription. Offshore loans rose slightly by 0.1% in December.

Analyzed by currency, HK$ loans fell by 1% while foreign currency loans grew by 0.3% during the month. As the decline in HK$ loans was more moderate than that of HK$ deposits, the HK$ loan-to-deposit ratio edged up to 103.3% at end-December, from 103.2% at end-November.

Quarterly Analysis of Loans for Use in Hong Kong by Major Economic Sector

Loans for use in Hong Kong grew faster by 4.5% in the December quarter, compared with the 2.0% increase in the September quarter. Loans for trade financing rebounded by 1.4% in the December quarter and registered a 6.7% growth for 1996 as a whole. Loans for building, construction and property development and investment and for residential mortgages grew further strongly, by 7.5% and 5.8% respectively, along with the buoyant property market. Loans to financial concerns and stock-brokers also recorded notable growths of 6.7% and 25.5% respectively. Nevertheless, loans to the manufacturing sector were virtually unchanged, having slowed to an increase of 2.1% in the September quarter. Loans for wholesale and retail trade also fell by 1.5%, after rising by a cumulative 7.9% in the preceding three quarters.

Money Supply

HK$M1 surged by 6.1% in December, led by an increase of 8.6% in HK$ demand deposits and a rise of 2.3% in currency held by the public. On the other hand, HK$M2 and HK$M3 both decreased by 0.7% in December, having risen by 14.9% and 14.8% in the preceding six months respectively. During 1996, HK$M1 rose by 15.8%, HK$M2 increased by 19.3% while HK$M3 grew by 19%.

TABLE 1 : MONETARY STATISTICS - DEC 1996

(HK$mn)
    Earlier months (% change to Dec 1996)
  Dec 1996Nov 1996   Sep 1996   Dec 1995  
Money Supply
M1 - HK$ 198,690 187,289 (-6.1) 186,849 (6.3) 171,642 (15.8)
Foreign currency 19,149 19,945 (-4.0) 19,519 (-1.9) 18,830 (1.7)
Total 217,840 207,235 (-5.1) 206,368 (5.6) 190,471 (14.4)
M2 - HK$@ 1,503,728 1,514,450 (-0.7) 1,405,397 (7.0) 1,260,427 (19.3)
Foreign currency* 1,003,564 1,015,240 (-1.2) 994,893 (0.9) 1,005,674 (-0.2)
Total 2,507,292 2,529,690 (-0.9) 2,400,290 (4.5) 2,266,101 (10.6)
M3 - HK$@ 1,520,586 1,531,238 (-0.7) 1,421,602 (7.0) 1,278,288 (19.0)
Foreign currency* 1,066,107 1,079,444 (-1.2) 1,059,913 (0.6) 1,068,927 (-0.3)
Total 2,586,692 2,610,683 (-0.9) 2,481,516 (4.2) 2,347,215 (10.2)
               
Notes and coins in circulation 87,113 84,176 (-3.5) 84,139 (3.5) 81,667 (6.7)
of which held by public 76,516 74,816 (-2.3) 74,416 (2.8) 71,335 (7.3)
Total Deposits              
Total Demand deposits 141,323 132,419 (6.7) 131,952 (7.1) 119,136 (18.6)
Total Savings deposits 520,575 505,110 (3.1) 478,066 (8.9) 439,397 (18.5)
Total Time deposits 1,771,433 1,822,139 (-2.8) 1,724,327 (2.7) 1,650,957 (7.3)
With licensed banks 1,712,989 1,763,464 (-2.9) 1,663,867 (3.0) 1,594,476 (7.4)
With restricted licence banks 42,897 42,888 (0.0) 44,950 (-4.6) 38,125 (12.5)
With deposit-taking companies 15,547 15,787 (-1.5) 15,509 (0.2) 18,356 (15.3)
HK$ deposits@ 1,400,202 1,414,677 (-1.0) 1,304,136 (7.4) 1,171,627 (19.5)
Demand deposits 122,174 112,473 (8.6) 112,433 (8.7) 100,307 (21.8)
Savings deposits 366,109 357,293 (2.5) 335,475 (9.1) 300,697 (21.8)
Time deposits@ 911,918 944,911 (-3.5) 856,229 (6.5) 770,622 (18.3)
US$ deposits* 517,126 531,373 (-2.7) 510,272 (1.3) 524,335 (-1.4)
Other foreign currency deposits* 516,004 513,617 (0.5) 519,937 (-0.8) 513,529 (0.5)
Foreign currency deposits* 1,033,130 1,044,990 (-1.1) 1,030,208 (0.3) 1,037,864 (-0.5)
All deposits 2,433,332 2,459,667 (-1.1) 2,334,345 (4.2) 2,209,490 (10.1)
               
Foreign currency swap deposits 38,502 39,043 (-1.4) 39,266 (-1.9) 49,808 (-22.7)
               
               
Total Loans and advances              
               
Loans for use in H.K. 1,820,627 1,829,423 (-0.5) 1,742,326 (4.5) 1,571,808 (15.8)
To finance H.K.'s visible trade 165,314 164,088 (0.7) 163,403 (1.2) 155,884 (6.0)
To finance merchandising trade not touching H.K. 19,979 19,017 (5.1) 19,372 (3.1) 17,732 (12.7)
Other loans for use in H.K. 1,635,335 1,646,318 (-0.7) 1,559,551 (4.9) 1,398,193 (17.0)
Loans for use outside H.K.# 2,092,631 2,090,142 (0.1) 2,077,899 (0.7) 2,166,750 (-3.4)
Other loans for use outside H.K. 2,052,056 2,049,288 (0.1) 2,037,606 (0.7) 2,128,640 (-3.6)
Other loans where the place of use is not known 40,575 40,854 (-0.7) 40,292 (0.7) 38,110 (6.5)
Loans in HK$ 1,446,238 1,460,511 (-1.0) 1,385,226 (4.4) 1,237,330 (16.9)
Loans in foreign currencies 2,467,020 2,459,054 (0.3) 2,434,999 (1.3) 2,501,228 (-1.4)
Total loans and advances 3,913,258 3,919,565 (-0.2) 3,820,224 (2.4) 3,738,558 (4.7)

* Adjusted to exclude foreign currency swap deposits.
@ Adjusted to include foreign currency swap deposits.
# Including those where place of usage is unknown.
Note : Data may not add up to total due to rounding.

Last revision date: 1 August 2011
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery