2008-07-28
At the end of June 2006, M3 amounted to LTL 31.9 billion, increasing by LTL 748.3 million (LTL 670.7 million as a result of transactions) over a month. The annual growth rate of M3 was 26.7 per cent at the end of June. M2, which accounts for the largest part of M3, grew by LTL 770.3 million over a month (LTL 704.5 million as a result of transactions) to make up LTL 31.1 billion at the end of June. The annual growth rate of M2 was 24.0 per cent at the end of June. M1 increased by LTL 624.2 million (LTL 592.4 million as a result of transactions) over a month to make up LTL 21.5 billion at the end of June, increasing by 23.7 per cent as over a year.
An increase in M3 in June as a result of transactions was driven by an increase in overnight deposits by LTL 460.3 million, currency outside the Bank of Lithuania by LTL 132.1 million, deposits with an agreed maturity of up to 2 years by LTL 111.7 million, and deposits redeemable at a period of notice of up to 3 months by LTL 0.3 million. However, a decline in debt securities with a maturity of up to 2 years by LTL 33.8 million as a result of transactions reduced M3.
In June, the net external assets of MFIs contracted by LTL 57.1 million as a result of transactions, while domestic credit expanded by LTL 1.1 billion. The annual growth rates of these indicators were different at the end of June. Net external assets shrank by 78.7 per cent over the year, while domestic credit grew by 64.2 per cent. The decrease of the net external assets of MFIs as a result of transactions was mostly determined by the decline of net external assets of other MFIs of LTL 246.3 million.
The growth of domestic credit in June was driven by an increase in MFIs loans to other residents because of transactions by LTL 1.2 billion. The annual growth rate of these loans was 71.1 per cent at the end of June. Loans to non-financial corporations of other MFIs expanded as a result of transactions by LTL 478.0 million over a month, while their annual growth rate was 51.7 per cent at the end of June. Loans to households of other MFIs increased as a result of transactions by LTL 612.6 million over a month, increasing over a year due to transactions by 83.9 per cent at the end of June. Consumer loans to households rose by LTL 89.2 million, lending for house purchase by LTL 351.6 million, and other loans by LTL 171.8 million over a month. The annual growth rate of lending for house purchase was 80.1 per cent at the end of June.
Central government deposits increased as a result of transactions by LTL 138.0 million and longer-term financial liabilities of MFIs by LTL 271.4 million over a month. The growth rates of these indicators diverged at the end of June. Central government deposits increased over a year by 3.7 per cent, and longer-term financial liabilities of MFIs by 39.8 per cent. The increase in longer-term financial liabilities of MFIs in June was due to an increase in capital and reserves as a result of transactions by LTL 216.4 million, deposits with an agreed maturity of over 2 years by LTL 43.8 million, and debt securities with a maturity of over 2 years by LTL 11.2 million.