monthly report may 2019 12 30 monetary and financial ... · 16 may.17 sep.17jan.18 may.18 sep.18...

Monthly Report May 2019

Monetary and Financial Statistics

This report presents key monetary and financial statistics with the data up to May 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 ($): 20.6%

commercial ($): 5.7%

foreign trade (US$): 3.8%

mortgage (UF): 2.9%

Nominal loans by type of

debtor (2):

(annual variation)

consumer: 8.6%

commercial: 8.5%

foreign trade: 12.9%

mortgage: 9.7%

total: 9.1%

Monetary aggregates (3):

(annual variation)

M1: 9.2%

M2: 7.2%

M3: 11.7%

Interest rate and volume of new business of loans and

deposits

In May, the interest rate of commercial, consumer and mortgage

loans decreased to 5.7; 20.6 and 2.9% (April: 6.3; 21.0; 3.0%),

respectively. As for foreign trade loans, it presented similar values

than the month before: 3.8% View data and annex

The lower interest rate of commercial loans is due a decreased in

the rate of overdraft credit, which presented values of 5.8% (April

6.9%). For consumer loans, it is explained by a decline in the interest

rate of all of its components.

Regarding the interest rates of deposits in national currency, these

presented similar values than the month before, in a context of a

higher level of new business. Therefore, the interest rate for

maturities between 30 and 89 days was 3.0%, for maturities between

90 days and one year was 3.1% and for maturities between one and

three years was 3.5%. As for timelines higher than three years, the

interest rate was 2.8% View data and annex

Nominal loans by type of debtor

The annual growth rate of the total credit stock was 9.1% (April:

9.5%), explained by a decreased in all type of loans, except for

mortgage loans. Therefore, the growth rate of consumer,

commercial, and foreign trade loans were: 8.6; 8.5 and 12.9% (April:

8.8; 9.0 and 17.6%) respectively. As for mortgage loans, it presented

a growth rate of 9.7%, higher than the previous month (April: 9.4%).

(Figure 2).View data and annex

Nominal monetary aggregates

The annual growth rate of M1 decreased to 9.2% (April 9.6%), due

to a lower incidence of current accounts. As for M2, the annual

growth rate was 7.2% (April: 7.4%), influenced by the decline of M1

and time deposits. Finally, the annual variation of M3 presented

similar values than the month before (11.7%), explained by

compensating movements between the higher impact of Central

Bank instruments and the decreased in M2. (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

May.17 Sep.17 Jan.18 May.18 Sep.18 Jan.19 May.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


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


M1 M2 M3M1 M2 M3

Source: Central Bank of Chile. View extended series

http://si3.bcentral.cl/GraficosHch/default.aspx?codGrafico=GRAF_ESMO_COLTIPDEU

http://si3.bcentral.cl/GraficosHch/default.aspx?codGrafico=GRAF_ESMO_COLTIPDEU

http://si3.bcentral.cl/GraficosHch/default.aspx?codGrafico=GRAF_ESMO_COLTIPDEU&Idioma=en-US

http://si3.bcentral.cl/GraficosHch/default.aspx?codGrafico=GRAF_ESMO_COLTIPDEU&Idioma=en-US

Central Bank of Chi le – May 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


overdraft credit card installment creditinstallment credit revolving creditconsumer

0

7

14

21

28

35


commercial overdreft credit

credit card and others installment credit

0.0

1.5

3.0

4.5

6.0


foreign trade import export

0.0

2.0

4.0

6.0

8.0


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


revolving credit credit card installment creditoverdraft installment creditconsumer

0

1000

2000

3000

4000

5000

6000

7000


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


export import foreign trade

0.0

100.0

200.0

300.0

400.0

500.0

600.0


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


revolving credit credit card installment credit

overdraft installment credit

consumer average

0

1

2

3

4

5

6

7

8

9

10


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


export import foreign trade average



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

May.17 Sep.17 Jan.18 May.18 Sep.18 Jan.19 May.19 0.0

2000.0

4000.0

6000.0

8000.0

10000.0

0

1

2

3

4

5


500.0

1000.0

1500.0

2000.0

2500.0

0

1

2

3

4

5


100.0

200.0

300.0

400.0

500.0

0

1

2

3

4

5



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

May.17 Sep.17 Jan.18 May.18 Sep.18 Jan.19 May.19 -2.0

-1.0

0.0

1.0

2.0

0

4

8

12

16

May.17 Sep.17 Jan.18 May.18 Sep.18 Jan.19 May.19 -12.0

-6.0

0.0

6.0

12.0

-25

-15

-5

5

15

25


0.0

0.5

1.0

1.5

6

10

14

18


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


currency in circulation current account depositsother checkable deposits M1

-4

0

4

8

12

16


M1 time depositssavings deposits mutual funds in M2 (net value)cooperatives in M2 (net value) M2

-4

0

4

8

12

16


Central Bank instruments M2foreign currency deposits treasury bondsmortgage bonds commercial paperscorporate bonds mutual funds in M3 (net value)M3



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

monthly report may 2019 12 30 monetary and financial ... · 16 may.17 sep.17jan.18 may.18 sep.18...

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