Monetary Survey and Balance Sheet of other MFIs, May 2011

In May 2011, broad monetary aggregate M3 and lending for house purchase increased, while consumer credit was decreasing further. After longer than a two-year period of decrease in household loans for house purchase granted by other monetary financial institutions (MFIs), the amount of these loans increased for the second consecutive month: it increased by LTL 13.6 million in April 2011 and by LTL 14.7 million in May. However, consumer loans are still decreasing since the end of 2008 which precludes the household loan curve to rise over its negative positions. M3 broad monetary aggregate increased by LTL 384.3 million over the month. Net external assets of MFIs (i.e. external assets less external liabilities) increased by LTL 526.3 million. i.e. they were positive for the sixth consecutive month and amounted to LTL  2.6 billion at the end of May. Other MFIs’ lending to residents, excluding MFIs, declined in May by LTL 54.4 million, while lending in euros accounted for 69.8% of total loans at the end of the month.