Release date : 7th March, 2017
For the December quarter 2016:
- Net foreign assets is 137.7 million for all banks surveyed in the December quarter 2016, indicating an increase over the September quarter of 6.3 per cent.
- Total lending for the December quarter 2016 sat at $293.5 million.
- The money supply increased by 1.6 per cent overall
- Interest rates remained stable this quarter – see table 4
Money Supply 2011-2016
More Information about Banking Statistics
Aggregates are compiled from the Banking Survey which covers the Four commercial banks in the Cook Islands: ANZ, Westpac, Bank of the Cook Islands (BCI) and Capital Security Bank (CSB). The Cook Islands does not have a Central Bank and uses the NZ Dollar as its currency.
Narrow Money (M1) consist of Notes and Coins in circulation and Demand Deposits. M2 consist of narrow money (M1) and quasi money (savings, demand and term deposits), Net foreign position of the banks, Net domestic credits.
Transactions are valued in accordance to international standards.