2004-07-26
At the end of June 2004, broad money M2 amounted to LTL 18.8 billion. During the month, it grew by LTL 687.5 or 3.8 per cent.
In June , money M1 went up by LTL 408.0 million or 3.9 per cent, and at the end of June totalled to LTL 10.9 billion. M1 components - money in circulation and demand deposits in litas - grew by LTL 119.7 and LTL 288.3 million, respectively. The largest influence on the growth of demand deposits in litas was made by the development of the said deposits of non-financial corporations and individuals. These deposits increased by LTL 71.8 million and LTL 269.0 million, respectively, meanwhile demand deposits in litas of the other sectors dropped by LTL 52.4 million.
Quasi-money rose by LTL 279.5 million or 3.6 per cent, and at the end of the month amounted to LTL 8.0 billion. Over the month, time deposits and savings deposits in litas grew by LTL 187.7 million, o/w deposits of individuals expanded by LTL 139.7 million, and non-financial corporations - by LTL 36.2 million. The second component of quasi-money - deposits in foreign currencies - grew as well. The said deposits of non-financial corporations went up by LTL 102.6 million, while those of individuals dropped by LTL 19.4 million.
The development of the main counterparts of M2 - net foreign asserts and domestic credit ? was focused to opposite directions. Net foreign asserts decreased by LTL 238.3 million or 3.6 per cent, and at the end of the month made up LTL 6.5 billion. The development of net foreign assets was mostly entailed by the reduction recorded in June in foreign assets of the Bank of Lithuania and foreign liabilities - LTL 439.6 and LTL 147.3 million, respectively. Over the month, net foreign assets of commercial banks expanded by LTL 53.9 million.
Domestic credit grew by LTL 1.1 billion (8.0 %) up to LTL 15.3 billion. A LTL 539.1 million contraction of the central government deposits with the Bank of Lithuania and a LTL 96.6 million increase of the mentioned deposits held in commercial banks had the strongest influence on a LTL 444.1 million increase per month of net claims on the central government and mandatory social and health insurance funds. Credits to other national residents kept to grow rapidly: claims on the private sector increased by LTL 476.1 million, o/w claims on private non-financial corporations and individuals grew by LTL 266.5 million and LTL 206.6 million, respectively. Claims on non-banking financial institutions rose by LTL 203.2 million.
Banking Survey
| (LTL million, end-of-period) |
| 05/2004 | 06/2004 | Change | ||
| LTL million | % | |||
| FOREIGN ASSETS (NET) | 6,709.9 | 6,471.6 | -238.3 | -3.6 |
| Foreign assets | 13,168.1 | 12,872.6 | -295.5 | -2.2 |
| Foreign liabilities | 6,458.2 | 6,401.0 | -57.2 | -0.9 |
| DOMESTIC CREDIT | 14,158.1 | 15,295.1 | 1,137.0 | 8.0 |
| Claims on central government and social security funds (net) | -1,100.9 | -656.8 | 444.1 | 40.3 |
| Claims on local governments | 361.6 | 376.5 | 14.9 | 4.1 |
| Claims on nonfinancial public enterprises | 101.2 | 99.9 | -1.3 | -1.3 |
| Claims on private sector | 13,203.4 | 13,679.6 | 476.1 | 3.6 |
| Claims on nonbank financial institutions | 1,592.7 | 1,795.9 | 203.2 | 12.8 |
| MONEY | 10,464.7 | 10,872.7 | 408.0 | 3.9 |
| Currency in circulation | 4,584.3 | 4,704.0 | 119.7 | 2.6 |
| Demand deposits | 5,880.4 | 6,168.8 | 288.3 | 4.9 |
| QUASI-MONEY | 7,695.9 | 7,975.4 | 279.5 | 3.6 |
| Foreign currency deposits | 3,613.7 | 3,705.4 | 91.7 | 2.5 |
| Time and savings deposits | 4,082.2 | 4,269.9 | 187.7 | 4.6 |
| OTHER ITEMS (NET) | 2,707.4 | 2,918.6 | 211.2 | 7.8 |
Notes
Banking Survey covers the Bank of Lithuania, deposit money banks, branches of foreign banks, credit unions as well as government accounts with IMF.