Balance of Major Monetary and Credit Aggregates at the End of Mordad 1399
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Balance of major monetary and credit aggregates at the end of Mordad 1399 Growth rate at the end of the Share in growth at the end of the period Balance (trillion rials) period (percent) (percentage point) Mordad Esfand Mordad Mordad 1399 to Mordad 1399 to Mordad 1399 to Mordad 1399 to 1398 1398 1399 Mordad 1398 Esfand 1398 Mordad 1398 Esfand 1398 Monetary base (sources) 2,863.6 3,528.5 3,632.0 26.8 2.9 26.8 2.9 CBI foreign assets (net) 2,530.3 3,475.7 3,722.7 47.1 7.1 41.6 7.0 CBI claims on public sector (net) 338.9 156.3 114.3 -66.3 -26.9 -7.8 -1.2 Monetary CBI claims on banks 1,251.3 1,106.9 1,163.1 -7.0 5.1 -3.1 1.6 Base CBI other items (net) -1,256.9 -1,210.4 -1,368.1 -8.8 -13.0 -3.9 -4.5 Monetary base (uses) 2,863.6 3,528.5 3,632.0 26.8 2.9 Notes and coins in circulation 624.5 701.4 697.2 11.6 -0.6 Deposits of banks and credit institutions with the CBI 2,239.1 2,827.1 2,934.8 31.1 3.8 Ratio of notes and coins with the public to total deposits 0.0251 0.0254 0.0215 -14.3 -15.4 Money Ratio of reserve requirement to total deposits 0.1060 0.1080 0.0985 -7.1 -8.8 Multiplier Ratio of excess reserves to total deposits 0.0103 0.0130 0.0116 12.6 -10.8 Money multiplier 7.252 7.006 7.764 7.1 10.8 M2 and contribution of factors affecting M2 growth 20,765.9 24,721.5 28,199.3 35.8 14.1 35.8 14.1 Foreign assets (net) 3,371.4 4,632.3 5,056.0 50.0 9.1 8.1 1.7 Central Bank 2,530.3 3,475.7 3,722.7 47.1 7.1 5.7 1.0 Banks and credit institutions 841.1 1,156.6 1,333.3 58.5 15.3 2.4 0.7 Domestic assets (net) 17,394.5 20,089.2 23,143.3 33.0 15.2 27.7 12.4 Domestic claims 14,574.1 16,955.8 19,236.9 32.0 13.5 22.5 9.3 Claims on government (net) 2,436.8 2,386.7 2,851.2 17.0 19.5 2.0 1.9 Central Bank 163.7 -181.4 -183.2 -211.9 -1.0 -1.7 0.0 Banks and credit institutions 2,273.1 2,568.1 3,034.4 33.5 18.2 3.7 1.9 Claims on public corporations and institutions (net) 225.5 406.3 405.2 79.7 -0.3 0.9 0.0 Central Bank 175.2 337.7 297.5 69.8 -11.9 0.6 -0.2 Banks and credit institutions 50.3 68.6 107.7 114.1 57.0 0.3 0.2 Claims on non-public sector 11,911.8 14,162.8 15,980.5 34.2 12.8 19.6 7.4 Other items (net) 2,820.4 3,133.4 3,906.4 38.5 24.7 5.2 3.1 M2 Share of determinants' balance in M2 balance (percent) M2 and its determinants 20,765.9 24,721.5 28,199.3 35.8 14.1 Esfand 1398 Mordad 1399 M1 3,264.5 4,273.0 5,730.0 75.5 34.1 17.3 20.3 Notes and coins with the public 508.9 611.4 593.1 16.5 -3.0 2.5 2.1 Sight deposits 2,755.6 3,661.6 5,136.9 86.4 40.3 14.8 18.2 Quasi-money 17,501.4 20,448.5 22,469.3 28.4 9.9 82.7 79.7 Gharz-al-hasaneh savings deposits 1,096.7 1,448.1 1,689.6 54.1 16.7 5.9 6.0 Short-term deposits 6,155.3 7,081.1 8,439.1 37.1 19.2 28.6 29.9 One-year deposits 9,725.6 11,348.3 11,412.0 17.3 0.6 45.9 40.5 Two-year deposits 28.8 38.9 346.0 # # 0.2 1.2 Three-year deposits 0.7 0.6 0.5 -28.6 -16.7 0.0 0.0 Four-year deposits 4.5 4.3 4.2 -6.7 -2.3 0.0 0.0 Five-year deposits 137.4 94.8 74.4 -45.9 -21.5 0.4 0.3 Miscellaneous deposits 352.4 432.4 503.5 42.9 16.4 1.7 1.8 # More than 500 percent increase. CBI: Central Bank of the IRI. 1 Table 1 Summary of the Assets and Liabilities of the Banking System (trillion rials) Balance at the end of the month Percentage change Mordad 1398 Mordad 1399 Mordad 1398 Mordad 1399 Mordad Esfand Mordad Esfand Mordad to to to to 1397 1397 1398 1398 1399 Mordad 1397 Mordad 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 8,032.8 9,171.4 9,352.6 11,580.4 12,562.1 16.4 34.3 2.0 8.5 2 Claims on public sector 2,871.9 3,325.5 3,675.9 4,164.9 4,857.5 28.0 32.1 10.5 16.6 Government 2,549.2 3,041.3 3,388.7 3,697.1 4,390.4 32.9 29.6 11.4 18.8 Public corporations and institutions 322.7 284.2 287.2 467.8 467.1 -11.0 62.6 1.1 -0.1 3 Claims on non-public sector 11,496.7 13,126.1 13,547.4 16,220.2 18,600.3 17.8 37.3 3.2 14.7 Others 10,545.3 13,163.0 13,156.9 15,470.0 16,295.2 24.8 23.9 0.0 5.3 Sub-total 32,946.7 38,786.0 39,732.8 47,435.5 52,315.1 20.6 31.7 2.4 10.3 Below the line items 4,465.9 4,748.7 5,566.4 6,767.9 7,491.8 24.6 34.6 17.2 10.7 Total assets = total liabilities 37,412.6 43,534.7 45,299.2 54,203.4 59,806.9 21.1 32.0 4.1 10.3 Liabilities M2 16,466.9 18,828.9 20,765.9 24,721.5 28,199.3 26.1 35.8 10.3 14.1 M1 2,315.9 2,852.3 3,264.5 4,273.0 5,730.0 41.0 75.5 14.5 34.1 Quasi-money 14,151.0 15,976.6 17,501.4 20,448.5 22,469.3 23.7 28.4 9.5 9.9 Loans and deposits of public sector 853.5 915.9 1,006.7 1,366.9 1,595.2 17.9 58.5 9.9 16.7 Government 810.2 861.8 951.9 1,310.4 1,539.2 17.5 61.7 10.5 17.5 Public corporations and institutions 43.3 54.1 54.8 56.5 56.0 26.6 2.2 1.3 -0.9 Capital account 509.4 489.2 95.7 -438.9 -396.7 -81.2 # -80.4 9.6 Foreign loans and credits and foreign exchange deposits 4,988.3 5,918.8 5,981.2 6,948.1 7,506.1 19.9 25.5 1.1 8.0 Imports order registration deposit by non-public sector 0.0 0.0 0.0 0.0 0.0 θ θ θ θ Advance payments on Letters of Credit by public sector 0.3 1.7 1.7 1.8 0.7 466.7 -58.8 0.0 -61.1 Others 10,128.3 12,631.5 11,881.6 14,836.1 15,410.5 17.3 29.7 -5.9 3.9 Sub-total 32,946.7 38,786.0 39,732.8 47,435.5 52,315.1 20.6 31.7 2.4 10.3 Below the line items 4,465.9 4,748.7 5,566.4 6,767.9 7,491.8 24.6 34.6 17.2 10.7 1 Includes Central Bank, banks, and non-bank credit institutions while excludes commercial banks' branches abroad. Meanwhile, with reference to Letter No. 2958 dated Farvardin 8, 1398 by the CBI's Vice-Governor for Banking Supervision Affairs and based on the Approvals by the Money and Credit Council and the Supreme Council of Economic Coordination (the Heads of the Legislative, Executive, and Judicial bodies), data related to Bank Hekmat Iranian have been included in Bank Sepah’s data as of Khordad 1399. 2 Includes public sector's participation papers. Figures related to banks' and credit institutions' claims on public sector are prepared based on the data kept in the general ledgers of banks and credit institutions and are not audited. 3 As of Mordad 1398, a sum of Rls. 454 trillion worth of facilities extended by Ayandeh Bank was transferred from "current claims" heading to "other assets" heading. Calculation of percentage change is not possible. # More than 500 percent increase. Summary of the Assets and Liabilities of Central Bank Table 2 of the Islamic Republic of Iran (trillion rials) Balance at the end of the month Percentage change Mordad 1398 Mordad 1399 Mordad 1398 Mordad 1399 Mordad Esfand Mordad Esfand Mordad to to to to 1397 1397 1398 1398 1399 Mordad 1397 Mordad 1398 Esfand 1397 Esfand 1398 Assets Foreign assets 4,493.8 4,651.3 4,605.4 5,364.6 5,631.4 2.5 22.3 -1.0 5.0 Notes and coins 38.1 21.6 33.0 16.1 20.3 -13.4 -38.5 52.8 26.1 Claims on public sector 637.9 958.2 1,071.6 1,158.5 1,342.6 68.0 25.3 11.8 15.9 Government 369.2 731.2 841.6 764.3 989.1 128.0 17.5 15.1 29.4 Public corporations and institutions 268.7 227.0 230.0 394.2 353.5 -14.4 53.7 1.3 -10.3 Claims on banks 1,488.4 1,381.7 1,251.3 1,106.9 1,163.1 -15.9 -7.0 -9.4 5.1 1 Others 271.0 268.4 458.1 319.1 459.4 69.0 0.3 70.7 44.0 Sub-total 6,929.2 7,281.2 7,419.4 7,965.2 8,616.8 7.1 16.1 1.9 8.2 Below the line items 21.4 28.9 21.2 28.1 21.1 -0.9 -0.5 -26.6 -24.9 Total assets = total liabilities 6,950.6 7,310.1 7,440.6 7,993.3 8,637.9 7.0 16.1 1.8 8.1 Liabilities Notes and coins 562.9 657.5 657.5 717.5 717.5 16.8 9.1 0.0 0.0 With the public 437.0 547.5 508.9 611.4 593.1 16.5 16.5 -7.1 -3.0 With banks 87.8 88.4 115.6 90.0 104.1 31.7 -9.9 30.8 15.7 With the Central Bank 38.1 21.6 33.0 16.1 20.3 -13.4 -38.5 52.8 26.1 Deposits of banks and credit institutions 1,755.0 2,021.0 2,239.1 2,827.1 2,934.8 27.6 31.1 10.8 3.8 Reserve requirement 1,698.9 1,948.0 2,147.0 2,604.7 2,717.9 26.4 26.6 10.2 4.3 2 Sight 56.1 73.0 92.1 222.4 216.9 64.2 135.5 26.2 -2.5 Deposits of public sector 580.1 666.2 732.7 1,002.2 1,228.3 26.3 67.6 10.0 22.6 Government 536.8 612.1 677.9 945.7 1,172.3 26.3 72.9 10.7 24.0 Public corporations and institutions 43.3 54.1 54.8 56.5 56.0 26.6 2.2 1.3 -0.9 3 Capital account 89.4 118.6 95.8 116.3 108.1 7.2 12.8 -19.2 -7.1 Foreign exchange liabilities 2,179.5 2,234.8 2,075.1 1,888.9 1,908.7 -4.8 -8.0 -7.1 1.0 Imports order registration deposit by non-public sector 0.0 0.0 0.0 0.0 0.0 θ θ θ θ Advance payments on Letters of Credit by public sector 0.3 1.7 1.7 1.8 0.7 466.7 -58.8 0.0 -61.1 Others 1,762.0 1,581.4 1,617.5 1,411.4 1,718.7 -8.2 6.3 2.3 21.8 Sub-total 6,929.2 7,281.2 7,419.4 7,965.2 8,616.8 7.1 16.1 1.9 8.2 Below the line items 21.4 28.9 21.2 28.1 21.1 -0.9 -0.5 -26.6 -24.9 1 The major reason behind the increase in the CBI’s other assets at end-Mordad 1398 compared with the previous year-end has been the CBI’s payments for adjustments on tax liabilities and the government’s share in the CBI’s net profit for 1397.