2006-09-28
At the end of August 2006, M3 amounted to LTL 33.6 billion, increasing by LTL 896.2 million (a rise of LTL 938.6 million as a result of transactions) over a month. The annual growth rate of M3 was 28.1 per cent at the end of August. M2, which accounts for the largest part of M3, grew by LTL 697.2 million over a month (a rise of LTL 734.1 million as a result of transactions) to make up LTL 32.7 billion at the end of August. The annual growth rate of M2 was 25.1 per cent at the end of August. M1 increased by LTL 634.5 million (a rise of LTL 651.7 million as a result of transactions) over a month to make up LTL 22.5 billion at the end of August, a hike of 24.8 per cent over twelve months.
An increase in M3 in August was driven by the growth of all of its components. So, overnight deposits went up by LTL 543.4 million, debt securities with maturity of up to 2 years rose by LTL 204.6 million, currency in circulation increased by LTL 108.3 million, deposits with agreed maturity of up to 2 years hiked LTL 59.3 million, and deposits redeemable at a period of notice of up to 3 months went up LTL 23.1 million.
In August, the net external assets of MFIs dropped by LTL 587.3 million as a result of transactions, while domestic credit saw an increase of LTL 919.0 million. The annual growth rates of these indicators were different at the end of August. Net external assets shrank by 54.1 per cent over the year, while domestic credit grew by 51.1 per cent. In August, a decrease of the net external assets of MFIs was registered as a result of a slump in the net external assets of both the Bank of Lithuania and other MFIs, which made up LTL 292.8 million and LTL 294.5 million respectively.
The increase in domestic credit in August was driven by a rise of LTL 1.1 billion in MFIs loans to other residents as a result of transactions. The annual growth rate of these loans made up 56.3 per cent at the end of August. Loans to non-financial corporations went up by LTL 444.7 million over a month while their annual growth rate made up 47.2 per cent in August. As a result of transactions, loans to households increased by LTL 583.5 million over a month, a year-on-year growth of 79.9 per cent at the end of August. Consumer loans to households rose by LTL 86.1 million, lending for house purchase grew by LTL 352.5 million, and other loans went up by LTL 144.9 million over the month. The annual growth rate of lending for house purchase was 73.7 per cent at the end of August.
Central government deposits decreased by LTL 459.1 million as a result of transactions with their annual growth rate of ?22.8 per cent at the end of August. Longer-term financial liabilities of MFIs soared by LTL 122.2 million over the month, a year-on-year increase of 41.1 per cent. The increase in longer-term financial liabilities of MFIs in August was driven by a LTL 100.6 million rise in capital and reserves, as a result of transactions, a surge of LTL 15.6 million in debt securities with maturity of over 2 years and an increase of LTL 6.1 million in deposits with an agreed maturity of over 2 years.