- Pressemitteilung BoxID 134197
Monetary developments in the euro area: October 2009
Regarding the main components of M3, the annual rate of growth of M1 decreased to 11.8% in October 2009, from 12.8% in September. The annual rate of change of short-term deposits other than overnight deposits decreased to -7.2% in October, from -5.3% in the previous month. The annual rate of change of marketable instruments decreased to -11.6% in October, from -8.9% in September.
Turning to the main counterparts of M3 on the asset side of the consolidated balance sheet of the MFI sector, the annual growth rate of total credit granted to euro area residents was 2.9% in October 2009, after 3.0% in September. The annual rate of growth of credit extended to general government increased to 15.2% in October, from 13.5% in September, while the annual growth of credit extended to the private sector decreased to 0.5% in October, from 1.0% in September. Among the components of the latter, the annual rate of change of loans to the private sector decreased to -0.8% in October, from -0.3% in the previous month (adjusted for loan sales and securitisation2 the annual growth rate of loans to the private sector decreased to 0.3%, from 0.9% in the previous month). The annual rate of change of loans to non-financial corporations decreased to -1.2% in October, from -0.2% in September. The annual rate of change of loans to households stood at -0.1% in October, after -0.3% in the previous month. The annual rate of change of lending for house purchase increased to -0.2% in October, from -0.6% in September. The annual rate of change of consumer credit was -1.3% in October, after -1.2% in September, while the annual growth rate of other lending to households stood at 1.6% in October, after 1.5% in the previous month. Finally, the annual rate of change of loans to non-monetary financial intermediaries (except insurance corporations and pension funds) decreased to -1.4% in October, from -0.3% in the previous month.
Over the 12 months up to October 2009, the net external asset position of the euro area MFI sector increased by EUR 98 billion, compared with an increase of EUR 155 billion over the 12 months up to September. The annual rate of growth of longer-term financial liabilities of the MFI sector increased to 6.5% in October, from 5.6% in September.
- In addition to the monthly monetary developments for the reference month, this press release incorporates minor revisions to the data for previous months.
- The latest data on monetary aggregates and counterparts contained in the statistical annex to this press release can be downloaded from the ECB's Statistical Data Warehouse (http://sdw.ecb.europa.eu/browse.do?node=bbn1863). These data, as well as monthly and other shorter-term growth rates for selected items, longer time series for principal monetary aggregates (with a start date of January 1970) and methodological notes on the concepts underlying the monetary statistics and the related seasonal adjustment procedures, are also available on the ECB's website (http://www.ecb.europa.eu/stats/money/aggregates/aggr/html/index.en.html).
- Data refer to the changing composition of the euro area, i.e. they cover the EU Member States that had adopted the euro at the time to which the statistics relate. Data on outstanding amounts include Greece as of January 2001, Slovenia as of January 2007, Cyprus and Malta as of January 2008 and Slovakia as of January 2009.
- The publication of the statistics on monetary developments in November 2009, December 2009 and January 2010 is scheduled to take place at 10 am on 30 December 2009, 29 January 2010 and 25 February 2010 respectively.
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