2005-03-25
At the end of February 2005 broad money M2 made up LTL 22.2 billion. In the course of one month it increased by LTL 474.8 million, i.e. by 2.2 per cent.
Money M1 grew in one month by LTL 267.6 million to LTL 12.4 billion at the end of the month. M1 components - currency in circulation and demand deposits in litas - grew by LTL 73.1 million and LTL 194.5 million, respectively. The latter increase was mostly determined by an LTL 175.9 million growth in litas demand deposits of natural persons.
Quasi-money grew by LTL 207.2 million in February to LTL 9.8 billion at the end of the month. Litas time and savings deposits increased by LTL 34.1 million. Deposits in foreign currencies went up by LTL 173.1 million, of which deposits of non-financial undertakings increased by LTL 139.5 million.
Changes in the main M2 counterparts - net foreign assets and domestic credit - went in opposing directions in February. Net foreign assets increased by LTL 1.2 billion (18.6%), of which net foreign assets of commercial banks grew by LTL 827.3 billion. Domestic credit decreased by LTL 401.8 million. This decrease was largely determined by the contraction of net claims to the central government and mandatory social and health insurance funds of LTL 942.0 million. Credit to the other residents grew in one month by LTL 540.1 million, of which claims to non-financial undertakings increased by LTL 271.3 million and to natural persons by LTL 220.6 million.
| (LTL million, end-of-period) |
| 01/2005 | 02/2005 | Change | ||
| LTL million | % | |||
| FOREIGN ASSETS (NET) | 6,450.9 | 7,649.3 | 1,198.4 | 18.6 |
| Foreign assets | 13,979.8 | 14,573.0 | 593.2 | 4.2 |
| Foreign liabilities | 7,528.8 | 6,923.7 | -605.2 | -8.0 |
| DOMESTIC CREDIT | 18,970.6 | 18,568.8 | -401.8 | -2.1 |
| Claims on central government and social security funds (net) | 390.6 | -551.3 | -942.0 | - |
| Claims on local governments | 392.7 | 385.3 | -7.3 | -1.9 |
| Claims on nonfinancial public enterprises | 95.5 | 102.7 | 7.2 | 7.5 |
| Claims on private sector | 16,227.1 | 16,710.7 | 483.6 | 3.0 |
| Claims on nonbank financial institutions | 1,864.7 | 1,921.3 | 56.6 | 3.0 |
| MONEY | 12,141.4 | 12,408.9 | 267.6 | 2.2 |
| Currency in circulation | 5,000.2 | 5,073.3 | 73.1 | 1.5 |
| Demand deposits | 7,141.1 | 7,335.6 | 194.5 | 2.7 |
| QUASI-MONEY | 9,566.1 | 9,773.3 | 207.2 | 2.2 |
| Foreign currency deposits | 4,400.6 | 4,573.7 | 173.1 | 3.9 |
| Time and savings deposits | 5,165.4 | 5,199.6 | 34.1 | 0.7 |
| OTHER ITEMS (NET) | 3,714.1 | 4,035.9 | 321.8 | 8.7 |
Notes
Banking Survey covers the Bank of Lithuania, deposit money banks, branches of foreign banks, credit unions as well as government accounts with IMF.