Financial Aggregates May 2008

Total credit provided to the private sector by financial intermediaries rose by 0.6 per cent over May 2008, following a rise of 0.4 per cent over April. Over the year to May, total credit rose by 13.4 per cent.

Over the month of May, M3 grew by 0.4 per cent and broad money by 0.5 per cent. Over the year to May, broad money grew by 17.0 per cent.

Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks.

From this month, a series of residential mortgage securities will be published in the Bulletin in Table D.4. As a result, Table 2 will no longer contain non-break-adjusted levels of housing credit (excluding securitisations).


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