OREANDA-NEWS  On 02 March was announced, that in Bank of Lithuania published monetary survey and balance sheet of other MFIs, January, 2009.

January 2009, M3 broad monetary aggregate decreased as a result of transactions by LTL 932.3 mln to LTL 43.2 bln at the end of the month. Over the month, the monetary aggregate M2 declined as a result of transactions by LTL 881.7 mln to LTL 42.5 bln at the end of the month. The monetary aggregate M1 declined over the month as a result of transactions by LTL 1.2 bln and made up LTL 22.2 bln at the end of the month. At the end of January, all monetary aggregates declined over the year due to transactions: M3 by 0.1 per cent, M2 by 0.2 per cent and M1 by 14.9 per cent.

The deceleration of the domestic economy and the remaining favourable conditions for saving were reflected by the M3 composition in January. The decline due to transactions of overnight deposits and currency in circulation reduced M3 by LTL 884.5 mln and LTL 300.0 mln, respectively. Meanwhile, the increase in deposits with agreed maturity of up to 2 years pushed M3 up by LTL 331.8 mln.

Net external assets of MFIs decreased by LTL 6.1 mln due to transactions in January. At the end of the month they were negative and equalled to LTL 15.5 bln. The fall in net external assets was determined by the decline of net external assets of the Bank of Lithuania.

Domestic credit declined as a result of transactions by LTL 376.5 mln, whereas its annual growth rate made up 15.4 per cent at the end of January. The main factors that determined the decline in domestic credit in January were the decrease of loans to non-financial corporations and consumer credit to households granted by other MFIs by LTL 412.9 mln and LTL 85.9 mln, respectively. The annual growth rates of loans to non-financial corporations and households have been declining gradually since mid-2006. At the end of January 2009, they made up 13.1 per cent and 18.4 per cent, respectively. The growth of lending for house purchase due to transactions over the month was the lowest in the last five years and made up LTL 19.7 mln, while their annual growth rate at the end of January went down to 22.3 per cent (59.1% in January 2008). Other loans to households increased due to transactions over the month by LTL 82.7 mln.

Central government deposits increased over the month by LTL 231.3 mln, whereas longer-term financial liabilities of MFIs went up by LTL 161.1 mln. In January, the growth of these liabilities was driven by an increase of LTL 215.5 mln in capital and reserves. However, debt securities with the maturity of over 2 years declined by LTL 32.6 mln, whereas deposits with agreed maturity of over 2 years went down by LTL 21.8 mln.