Monthly Money and Banking Statistics on September Announced!

Monthly Money and Banking Statistics on September Announced! Monthly Money and Banking Statistics on September report was announced. CBRT published statistics of the Central Bank and other banks. Central Bank of the Republic of Turkey (CBRT), the Central Bank and other banks' currency, deposits and other monetary obligations, Monthly Money and Banking Statistics showing the position with loans and overseas by these institutions report released in September. M1: Cash + accounts in the calculation, M2: M1 + time deposit accounts, M3: M2 + repo, funds and securities. The large money supply M3 grew by 40.9 percent annually in the August 2020 period, followed by an annual growth of 43.5 percent in the September 2020 period. The annual growth rate of M1, the narrowest definition of money, was 88.3 percent in the previous month, and rose to 90.1 percent in September. The annual growth rate of loans granted by the monetary sector was 50.1 percent for households in August 2020 and 48.5 percent in September 2020. While the loans given to non-financial institutions increased by 35.3 percent in August 2020 compared to the previous year, it increased by 39.4 percent in September 2020 compared to the previous year. Looking at the contribution of broad money supply components to the annual growth in money supply, it was observed that time deposits were the largest contributor to the money supply, followed by demand deposits. The increase in time deposits with 26.2 percent played a role in the annual 43.5 percent growth observed in the large money supply M3 in September 2020. Demand deposits followed with 13.4 percent, and the contribution of other items was limited. Reflection of growth in M3 on provision items; 44.8 percent from the private sector, 9.4 percent from the general government, 1.3 percent from non-bank financial institutions and 0.5 percent from net foreign assets. On the other hand, other items (net) contributed by a 12.5 percent decrease. This article has been prepared with the contributions of investing.com.