2007-01-29
At the end of December outstanding amount of lending to households for house purchase exceeds 10 billion litas
At the end of December, a broad monetary aggregate M3 equalled to LTL 36.3 billion, a month-on-month increase of LTL 2.4 billion (or LTL 2.4 billion as a result of transactions). AT the end of the month, the annual growth rate of M3 made up 22.7 percent. During the period, an intermediate money aggregate M2 that comprises the largest portion of M3 rose by LTL 2.5 billion (LTL 2.4 billion as a result of transactions) to form LTL 35.8 billion at the end of the month.. The annual growth rate of M2 in December was 22.3 percent. During the same month, the narrow monetary aggregate M1 went up by LTL 1.7 billion (an increase of LTL 1.7 billion as a result of transactions) to LTL 24.8 billion, increasing by 19.3 percent over the past twelve months.
In December, the growth of M3 due to transactions was a result of an increase of LTL 1.3 billion in overnight deposits, a rise of LTL 724.4 million in deposits with agreed maturity of up to two years, a hike of LTL 384.6 million in the amount f currency in circulation, and a hike of LTL 1.5 in repurchase agreements. At the same time, M3 went down by LTL 35.5 million as a result of a decrease in the debt securities with maturity up to 2 years and an LTL 0.8 million decrease in the deposits redeemable at notice up to 3 month.
In December, both the growth in the net external assets of MFIs and domestic credit was driven by an increase of LTL 1.4 billion as a result of transactions. At the end of December, the annual growth rates of these two indicators were different. Year-on-year, net external assets declined by 5.8 percent, while domestic credit grew up 35.4 percent. In December, the growth of the net external assets as a result of transactions was possible because of an increase in the net assets of the Bank of Lithuania and net assets of MFIs respectively by LTL 902.9 million and LTL 450.2 million.
The growth of domestic credit in December was a result of an increase of LTL 1.2 billion in MFIs loans to other residents as a result of transactions. At the end of December, the annual growth rate of this category of loans constituted 41.2 percent. The loans of other MFIs to non-financial corporations increased due to transactions by LTL 498.9 million over this month, while their annual growth rate constituted 41.7 percent at the end of December. The loans to households increased due to transactions by LTL 582.3 million over the month, the annual growth of 69.4 percent as a result of transactions at the end of this month. Lending for house purchase grew by LTL 433.3 million, and consumer credit and other loans rose respectively by LTL 76.1 and 72.9 million. The annual growth rate of lending for house purchase was 63.1 percent at the end of December.
The central government deposits surged by LTL 469.9 million due to transactions over December, an annual growth of 100.4 per cent year on year. As a result of transactions, longer-term financial liabilities of MFIs decreased by LTL 16.8 million during the month, whereas their annual growth rate was equal to 31.9 per cent at the end of the month. In December, the longer-term financial liabilities of MFIs went down as a result of a slump of LTL 138.4 million in debt securities with maturity over 2 years. However, the liabilities soared as a result of a LTL 97.9 million increase in capital and reserves as well as a hike of LTL 23.6 million of deposits with agreed maturity of over two years.