2007-05-29
Banking and Other MFIs Balance Sheet Survey, April 2007 In April a year-on-year increase of M3 was 23.3 per cent
At the end of April 2007, broad monetary aggregate M3 amounted to LTL 37.7 billion, a month-on-month increase by LTL 226.1 million (LTL 280.9 million as a result of transactions). The annual growth rate of M3 at the end of April made up 23.3 per cent. An intermediate monetary aggregate M2, which accounts for the largest part of M3, grew by LTL 390.8 million over the month (LTL 444.2 million as a result of transactions) and at the end of April amounted to LTL 37.3 billion. The annual growth rate of M2 was 25.6 per cent at the end of April. Over the same month, the narrow monetary aggregate M1 widened by LTL 43.1 million (LTL 66.5 million as a result of transactions) to LTL 25.1 billion at the end of April, having increased by 24.3 per cent over the past twelve months.
In April, an increase of M3 as a result of transactions was mainly driven by a rise of LTL 376.1 million in deposits with agreed maturity of up to 2 years, an increase of LTL 152.0 million in currency in circulation, a hike of LTL 17.6 million of repurchase transactions, and an increase of LTL 1.5 million in deposits redeemable at notice up to 3 months. Meanwhile, a contraction of debt securities up to 2 years and of overnight deposits led to the contraction of M3 by LTL 180.8 million and LTL 85.5 million, respectively.
In April, net external assets of MFIs went down as a result of transactions by LTL 735.4 million, while domestic credit soared by LTL 1.0 billion. Over the last 12 months, the development trends for these two indicators varied. Net external assets declined by 96.3 per cent, while domestic credit on the contrary climbed by 33.9 per cent year-on-year. In April, net external assets of the Bank of Lithuania expanded by LTL 922.8 million, while those of other MFIs contracted by LTL 1.7 billion.
In April, the growth of domestic credit was driven by a rise of LTL 1.3 billion in MFIs loans to other residents as a result of transactions. At the end of April, the annual growth rate of these loans made up 36.5 per cent. Loans of other MFIs to non-financial corporations went up by LTL 630.1 million with their annual growth rate reaching 35.6 per cent at the end of April. Loans to households climbed by LTL 747.1 million as a result of transactions over the month, while their year-on-year growth amounted to 65.9 per cent. Over the month, lending for house purchase went up as a result of transactions by LTL 513.8 million, and their annual growth rate made up 62.9 per cent at the end of April. Over the month, consumer and other loans augmented by LTL 108.4 million and LTL 124.9 million, respectively.
Over one month, the central government deposits contracted as a result of transactions by LTL 197.9 million. However, at the end of April the annual growth rate of this indicator was 60.3 per cent. Month-on-month, longer-term financial liabilities of MFIs augmented by LTL 82.7 million as a result of transactions, while their annual growth rate accounted for 32.6 per cent at the end of April. In April, these liabilities grew due to a LTL 67.8 million rise of capital and reserves as a result of transactions, while debt securities over 2 years increased by LTL 15.4 million. However, deposits with an agreed maturity of over 2 years contracted by LTL 0.5 million.