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YearQuarterM1 (HK$ million)
HK$Foreign currencyTotal (M1)
non-adjustedseasonally adjusted
2014 1,116,675 1,120,375 592,049 1,708,724
2015 1,253,380 1,258,391 717,766 1,971,146
2016 1,428,445 1,437,023 785,195 2,213,970
2015 Q4 1,253,380 1,258,391 717,766 1,971,146
2016 Q1 1,306,062 1,295,131 770,572 2,076,634
Q2 1,329,267 1,334,325 760,665 2,089,932
Q3 1,417,126 1,397,019 817,318 2,234,444
Q4 1,428,775 1,437,023 785,195 2,213,970

YearQuarterM2 (HK$ million)
HK$Foreign currencyTotal (M2)
non-adjustedadjusted to include foreign currency swap depositsnon-adjustedadjusted to exclude foreign currency swap deposits
2014 5,225,655 5,225,773 5,785,717 5,785,599 11,011,372
2015 5,765,501 5,765,549 5,852,940 5,852,892 11,618,441
2016 6,280,112 6,280,156 6,227,868 6,227,824 12,507,980
2015 Q4 5,765,501 5,765,549 5,852,940 5,852,892 11,618,441
2016 Q1 5,801,753 5,801,800 5,945,881 5,945,835 11,747,635
Q2 5,899,302 5,899,348 5,892,015 5,891,970 11,791,318
Q3 6,187,798 6,187,842 6,202,405 6,202,361 12,390,203
Q4 6,280,112 6,280,156 6,227,868 6,227,824 12,507,980

YearQuarterM3 (HK$ million)
HK$Foreign currencyTotal (M3)
non-adjustedadjusted to include foreign currency swap depositsnon-adjustedadjusted to exclude foreign currency swap deposits
2014 5,236,069 5,236,188 5,812,875 5,812,757 11,048,944
2015 5,778,725 5,778,772 5,876,295 5,876,247 11,655,019
2016 6,292,548 6,292,591 6,258,636 6,258,592 12,551,184
2015 Q4 5,778,725 5,778,772 5,876,295 5,876,247 11,655,019
2016 Q1 5,814,432 5,814,479 5,968,758 5,968,711 11,783,190
Q2 5,911,044 5,911,089 5,917,170 5,917,125 11,828,214
Q3 6,200,501 6,200,545 6,231,137 6,231,093 12,431,638
Q4 6,292,548 6,292,591 6,258,636 6,258,592 12,551,184

Notes : Figures refer to all authorized institutions (AIs), which include licensed banks, restricted licence banks (RLBs) and deposit-taking companies (DTCs).
 Figures are revised on a monthly basis to take into account any subsequent amendments submitted by AIs.
 RLBs can accept time deposits in amounts of not less than HK$500,000 with any term of maturity. There is no restriction on interest rate payable.
 DTCs can accept time deposits in amounts of not less than HK$100,000 with a term of maturity of at least three months. There is no restriction on interest rate payable.
 M1 refers to the sum of legal tender notes and coins held by the public plus customers demand deposits placed with licensed banks.
 M2 refers to the sum of M1 plus customers' savings and time deposits with licensed banks, plus negotiable certificates of deposits (NCDs) issued by licensed banks held by non-authorized institutions.
 M3 refers to the sum of M2 plus customer deposits with restricted licence banks (RLBs) and deposit-taking companies (DTCs) plus negotiable certificates of deposits (NCDs) issued by RLBs and DTCs held by non-authorized institutions.
 Among the various monetary aggregates, seasonal patterns are found in Hong Kong dollar M1, currency held by the public, and demand deposits. The seasonally adjusted data series facilitate the analysis of underlying trends.
 Foreign currency swap deposits are deposits involving customers buying foreign currencies in the spot market and placing them as deposits with authorized institutions, while at the same time entering into a forward contract to sell such foreign currencies (principal plus interest) upon maturity of such deposits. For most analytical purposes, these should be regarded as Hong Kong dollar deposits.
Source : Hong Kong Monetary Authority
For further information, please visit the website of the Hong Kong Monetary Authority
(Enquiry telephone no. : 2878 8222
 Enquiry e-mail : hkma@hkma.gov.hk)



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