2004-09-24
At the end of August 2004 broad money M2 made up LTL 19.5 billion. In the course of one month it increased by LTL 156.7 million, i.e. by 0.8 per cent.
Money M1 grew in one month by LTL 102.4 million (0.9%) to LTL 11.2 billion at the end of August. M1 components - currency in circulation and demand deposits in litas - grew by LTL 3.1 million and LTL 99.2 million, respectively. Such deposits of natural persons went down by LTL 75.8 million and deposits of non-financial undertakings and other institutions grew by LTL 115.4 million and LTL 59.7 million, respectively.
Quasi-money grew by LTL 54.3 million (0.7%) in August to LTL 8.4 billion at the end of the month. Litas time and savings deposits increased by LTL 66.5 million in one month, of which deposits of non-financial undertakings and natural persons increased by LTL 1.4 million and LTL 68.0 million, respectively, and such deposits of other institutions decreased by LTL 2.8 million. The second component of quasi-money - foreign currency deposits - went down by LTL 12.2 million. These deposits of non-financial undertakings and other institutions went down by LTL 22.7 million and LTL 15.4 million, respectively, while deposits of natural persons grew by LTL 25.9 million.
Changes in the main M2 counterparts - net foreign assets and domestic credit - went in opposing directions in August. Net foreign assets decreased by LTL 293.2 million (4.0%) to LTL 7.0 billion. The decrease was mostly influenced by the decline of commercial bank foreign assets.
Domestic credit grew by LTL 543.3 million (3.6%) and made up LTL 15.8 billion at the end of August. The decrease of deposits of central government institutions at the Bank of Lithuania resulted in the increase of net claims on the central government and mandatory social and health insurance funds by LTL 128.7 million. Credit to other residents saw a significant increase of LTL 414.6 million in August, of which credit to natural persons, non-financial undertakings and other institutions went up by respectively LTL 175.0 million, LTL 153.2 million and LTL 86.4 million. Loans in foreign currencies went up by LTL 272.3 million in one month, and loans in litas grew by LTL 143.2 million.
Banking Survey
| (LTL million, end-of-period) |
| 07/2004 | 08/2004 | Change | ||
| LTL million | % | |||
| FOREIGN ASSETS (NET) | 7,293.8 | 7,000.6 | -293.2 | -4.0 |
| Foreign assets | 13,470.0 | 13,589.2 | 119.2 | 0.9 |
| Foreign liabilities | 6,176.2 | 6,588.7 | 412.4 | 6.7 |
| DOMESTIC CREDIT | 15,294.0 | 15,837.3 | 543.3 | 3.6 |
| Claims on central government and social security funds (net) | -779.5 | -650.9 | 128.7 | 16.5 |
| Claims on local governments | 385.3 | 393.6 | 8.3 | 2.2 |
| Claims on nonfinancial public enterprises | 96.2 | 95.5 | -0.8 | -0.8 |
| Claims on private sector | 13,767.7 | 14,094.3 | 326.6 | 2.4 |
| Claims on nonbank financial institutions | 1,824.4 | 1,904.9 | 80.5 | 4.4 |
| MONEY | 11,057.7 | 11,160.1 | 102.4 | 0.9 |
| Currency in circulation | 4,820.1 | 4,823.3 | 3.1 | 0.1 |
| Demand deposits | 6,237.6 | 6,336.8 | 99.2 | 1.6 |
| QUASI-MONEY | 8,303.2 | 8,357.5 | 54.3 | 0.7 |
| Foreign currency deposits | 3,856.1 | 3,843.8 | -12.2 | -0.3 |
| Time and savings deposits | 4,447.1 | 4,513.6 | 66.5 | 1.5 |
| OTHER ITEMS (NET) | 3,226.9 | 3,320.3 | 93.4 | 2.9 |
Notes
Banking Survey covers the Bank of Lithuania, deposit money banks, branches of foreign banks, credit unions as well as government accounts with IMF.