Monthly Report July 2019 12 30 Monetary and Financial ...
Transcript of Monthly Report July 2019 12 30 Monetary and Financial ...
Monthly Report July 2019
Monetary and Financial Statistics
This report presents key monetary and financial statistics with the data up to July 2019. The statistics correspond to information reported by all the banks in the country. Definitions and a greater disaggregation of the series contained in this report are available at the Statistical Database of the Central Bank of Chile.
Contact: [email protected]
Interest rates by type of
debtor (1):
(rates on an annual basis 360 days)
consumer ($): 20.5%
commercial ($): 5.6%
foreign trade (US$): 3.7%
mortgage (UF): 2.6%
Nominal loans by type of
debtor (2):
(annual variation)
consumer: 8.0%
commercial: 7.4%
foreign trade: 7.8%
mortgage: 10.6%
total: 8.4%
Monetary aggregates (3):
(annual variation)
M1: 9.7%
M2: 6.8%
M3: 11.4%
Interest rate and volume of new business of loans and
deposits
In July, the interest rate of mortgage and consumer loans decreased
to 2.6 and 20.5% (June: 2.8 and 20.7%), respectively. As for
commercial and foreign trade loans, the interest rate increased to 5.6
and 3.7% (June: 5.4 and 3.5%). View data and annex
The decrease of consumer loans is explained by a decline in the
rates of overdraft and revolving credits, which presented values of
25.3 and 26.7% (June: 25.9 and 27.1%), respectively. As for foreign
trade loans, the higher interest rate is explained by an increase in
the rate of export credits, which reach values of 3.4% (June: 3.1%),
along with a greater share of import credits in the volume of new
business. Finally, the rise in the interest rate of commercial loans is
due to the increase in overdraft credit rate to 5.9% (June 5.6%).
Regarding the interest rates of deposits in national currency, these
presented lower values than the month before in all maturities, in a
context of a higher level of new business. Therefore, the interest rate
for maturities between 30 and 89 days was 2.5%, for maturities
between 90 days and three years was 2.6% and for maturities more
than three years was 2.9%. View data and annex
Nominal loans by type of debtor
The annual growth rate of the total credit stock increased to 8.4%
(June: 8.2%), explained by a higher incidence of mortgage and
foreign trade loans: 10.6 and 7.8% (June 10.1 and 5.5%),
respectively. On the other hand, consumer and commercial loans
continued to growth around 7.4 and 8.0% (June 7.5 and 8.1%). The
higher growth rate of commercial and foreign trade credits was
influenced by the increased of the exchange rate in the period.
(Figure 2).View data and annex
Nominal monetary aggregates
The annual growth rate of M1 was 9.7% (June 8.9%), explained by
a higher impact of other checkable deposits. As for M2, the annual
growth rate was 6.8% (June: 6.1%), influenced by the increased in
time deposits. Finally, the yearly variation of M3 was 11.4% (June
12.1%), due to a lower incidence of Central Bank instruments and
treasury bonds. (Figure 3) View data and annex
Graph 1: Interest rates by type of debtor (1) (rates on an annual basis 360 days, percentage)
0
10
20
30
0
4
8
12
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
commercial ($)mortgage (UF)foreign trade (US$)
consumer ($)
Source: Central Bank of Chile. View extended series Graph 2: Nominal loans by type of debtor (2) (annual basis, percentage)
-40
-20
0
20
40
0
4
8
12
16
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
commercial mortgageconsumer total
foreign trade
Source: Central Bank of Chile based on individual balance sheets reported by the Superintendence of Banks and Financial Institutions (SBIF). View extended series
Graph 3: Monetary aggregates (3) (annual basis, percentage)
0
5
10
15
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
M1 M2 M3M1 M2 M3
Source: Central Bank of Chile. View extended series
Central Bank of Chi le – Ju ly 2019
Annex
1.- Interest rate and volume of new business by type of debtor (1)
(rates on an annual basis 360 days, percentage) Consumer ($) Commercial ($) Foreign trade (US$) Mortgage (UF)
0
7
14
21
28
35
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
overdraft credit card installment creditinstallment credit revolving creditconsumer
0
7
14
21
28
35
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
commercial overdreft credit
credit card and others installment credit
0.0
1.5
3.0
4.5
6.0
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
foreign trade import export
0.0
2.0
4.0
6.0
8.0
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
Source: Central Bank of Chile.
Monthly volume of new business, (billions of pesos)
Consumer ($) Commercial ($) Foreign trade (US$) Mortgage (UF)
0
500
1000
1500
2000
2500
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
revolving credit credit card installment creditoverdraft installment creditconsumer
0
1000
2000
3000
4000
5000
6000
7000
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
overdreft credit credit card and others
installment credit commercial
0.0
200.0
400.0
600.0
800.0
1000.0
1200.0
1400.0
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
export import foreign trade
0.0
100.0
200.0
300.0
400.0
500.0
600.0
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
Incidence in average interest rate (rates on an annual basis 360 days, percentage points) Consumer ($) Commercial ($) Foreign trade (US$)
0
5
10
15
20
25
30
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
revolving credit credit card installment credit
overdraft installment credit
consumer average
0
1
2
3
4
5
6
7
8
9
10
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
overdraft revolving credit
revolving credit commercial average
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
export import foreign trade average
Source: Central Bank of Chile.
Central Bank of Chi le – Ju ly 2019
Interest rate and volume of new business of deposits by maturity (rates on an annual basis 360 days, percentage)s, billions of pesos)
30 to 89 days ($) 90 days to 1 year ($) 1 to 3 years ($) More than 3 years ($)
0.0
4000.0
8000.0
12000.0
16000.0
20000.0
0
1
2
3
4
5
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19 0.0
2000.0
4000.0
6000.0
8000.0
10000.0
0
1
2
3
4
5
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19 0.0
500.0
1000.0
1500.0
2000.0
2500.0
0
1
2
3
4
5
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19 0.0
100.0
200.0
300.0
400.0
500.0
0
1
2
3
4
5
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
Source: Central Bank of Chile.
2.- Nominal loans by type of debtor (2) (annual and monthly variation, percentage) Consumer Commercial Foreign trade Mortgage
-1.8
-0.9
0.0
0.9
1.8
4
8
12
16
20
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19 -2.0
-1.0
0.0
1.0
2.0
0
4
8
12
16
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19 -12.0
-6.0
0.0
6.0
12.0
-25
-15
-5
5
15
25
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
0.0
0.5
1.0
1.5
6
10
14
18
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
Source: Central Bank of Chile based on individual balance sheets reported by the Superintendency of Banks and Financial Institutions (SBIF).
3.- Monetary aggregates and its components (3) (contribution to annual variation, percentage) M1 M2 M3
-4
0
4
8
12
16
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
currency in circulation current account depositsother checkable deposits M1
-4
0
4
8
12
16
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
M1 time depositssavings deposits mutual funds in M2 (net value)cooperatives in M2 (net value) M2
-4
0
4
8
12
16
Jul.17 Nov.17 Mar.18 Jul.18 Nov.18 Mar.19 Jul.19
Central Bank instruments M2foreign currency deposits treasury bondsmortgage bonds commercial paperscorporate bonds mutual funds in M3 (net value)M3
Source: Central Bank of Chile.
Central Bank of Chi le – Ju ly 2019
Notes: (1) Interest rates
Weighted average effective interest rates of the operations carried out by commercial banks during a month in the Metropolitan Region.
The interest rates ($) are expressed on a 360 days basis using the conversion of simple interest. Details regarding shares by maturity and currency of the different types of interest rates are available
in:”Series de indicadores (Excel), hoja resumen“. The definition of each product and details regarding their share are available in the following document: ”Estadísticas de Tasas de Interés del Sistema
Bancario”, (E. Arraño, P. Filippi, C. Vásquez, “Serie de Estudios Económicos Estadísticos, N° 113, Banco Central de Chile, julio 2015”). Discontinuous graphs imply that no operations were performed the
corresponding month.
(2) Loans
Balance sheets in Chilean Pesos at the end of the last working day of each month. The corresponding information is obtained from the individual balance sheets of each commercial bank. That is, it does
not take into consideration the operations of subsidiaries and branches abroad. Preliminary data reported for the last two periods. For more information, see: ”Estadísticas de Colocaciones“ (E. Arraño and
B. Velásquez, “Serie de Estudios Económicos Estadísticos, N° 92, Banco Central de Chile, julio 2012”).
(3) Monetary Aggregates Monthly averages calculated on the basis of information provided by commercial banks, the Superintendency of Banks and Financial Institutions (SBIF), Superintendency of Pensions (SP), Superintendency
of Securities and Insurance (SVS) and the General Treasury of the Republic of Chile. Preliminary data reported for the last three periods. For more information, see: ”Agregados Monetarios: Nuevas
Definiciones”, (E. Arraño, “Serie de Estudios Económicos Estadísticos, N°53, Banco Central de Chile, mayo 2006”). As a result of the incorporation of new sources of information, the M2 and M3 series
published in October 2017 have been revised since January 2005 to date due to the update of the "Time Deposit (Dp)". In addition, the series of "Deposits in Current Account (D1)" and "Deposits and
Savings on Demand (Dv + Ahv) were reviewed.
This document has been prepared by the Statistics Division of the Central Bank of Chile