2005-01-26
At the end of December 2004 broad money M2 made up LTL 21.8 billion.In the course of one month it increased by LTL 1.5 billion, i.e. by 7.2 per cent.
Money M1 grew in December by LTL 887.4 million (7.7%) to LTL 12.5 billion at the end of the year.M1 components - currency in circulation and demand deposits in litas - grew by LTL 189.9 million and LTL 697.5 million, respectively.Demand deposits of non-financial undertakings and natural persons increased by LTL 382.4 million and LTL 530.9 million, respectively, and demand deposits of other institutions declined by LTL 215.8 million.
Quasi-money grew by LTL 581.9 million (6.7%) in December 2004 to LTL 9.3 billion at the end of the month.Time and savings deposits in litas increased by LTL 189.5 million in one month, of which such deposits of natural persons grew most, by LTL 155.1 million.The second component of quasi-money - foreign currency deposits - increased by LTL 392.4 million, of which these deposits of non-financial undertakings grew by LTL 388.6 million.
The main M2 counterparts - net foreign assets and domestic credit - went up in December as well.Net foreign assets saw an increase of LTL 224.1 million (3.4%) to reach LTL 6.7 billion.Domestic credit grew by LTL 1.2 billion (6.6%) and made up LTL 18.6 billion at the end of the year.The decrease of deposits of central government institutions at the Bank of Lithuania by LTL 613.9 million mostly resulted in the decline of net claims on the central government and mandatory social and health insurance funds by LTL 569.1 million in December.Credit to the private sector grew in December by LTL 527.8 million, of which credit to non-financial undertakings and natural persons increased by LTL 297.9 million and LTL 223.1 million, respectively.
In the course of 2004 broad money M2 increased by LTL 4.2 billion, (24.1%),of which money M1 and quasi-money increased by LTL 1.9 billion and LTL 2.3 billion (18.4% and 32.7%), respectively.Over the year, net foreign assets increased by LTL 49.4 million, and domestic credit grew by LTL 5.4 billion (41.0%).The expansion of domestic credit was mostly influenced by credit to non-financial undertakings, which increased by LTL 2.4 billion (26.7%) and by credit to natural persons which grew by LTL 2.1 billion (81.8%).
Banking Survey
| (LTL million, end-of-period) |
| 11/2004 | 12/2004 | Change | ||
| LTL million | % | |||
| FOREIGN ASSETS (NET) | 6,507.0 | 6,731.1 | 224.1 | 3.4 |
| Foreign assets | 13,240.9 | 13,714.4 | 473.6 | 3.6 |
| Foreign liabilities | 6,733.9 | 6,983.4 | 249.5 | 3.7 |
| DOMESTIC CREDIT | 17,413.3 | 18,564.1 | 1,150.9 | 6.6 |
| Claims on central government and social security funds (net) | -431.0 | 138.1 | 569.1 | - |
| Claims on local governments | 408.1 | 411.8 | 3.6 | 0.9 |
| Claims on nonfinancial public enterprises | 91.7 | 88.5 | -3.3 | -3.5 |
| Claims on private sector | 15,502.4 | 16,030.2 | 527.8 | 3.4 |
| Claims on nonbank financial institutions | 1,842.1 | 1,895.6 | 53.5 | 2.9 |
| MONEY | 11,584.6 | 12,472.0 | 887.4 | 7.7 |
| Currency in circulation | 4,931.3 | 5,121.2 | 189.9 | 3.9 |
| Demand deposits | 6,653.3 | 7,350.8 | 697.5 | 10.5 |
| QUASI-MONEY | 8,711.6 | 9,293.4 | 581.9 | 6.7 |
| Foreign currency deposits | 3,927.2 | 4,319.6 | 392.4 | 10.0 |
| Time and savings deposits | 4,784.4 | 4,973.8 | 189.5 | 4.0 |
| OTHER ITEMS (NET) | 3,624.1 | 3,529.7 | -94.3 | -2.6 |
Notes
Banking Survey covers the Bank of Lithuania, deposit money banks, branches of foreign banks, credit unions as well as government accounts with IMF.