Release date : 6th July 2016
Key facts
For the March quarter 2016:
- Net foreign assets is 95.2 million for all banks surveyed in the March quarter 2016, this is a drop over the December quarter of 2.9 per cent.
- Total lending for the March quarter 2016 sat at $246.0 million.
- The money supply decreased by 2.3 per cent overall
- Interest rates also fluctuates this quarter – see table 4 for movement
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.
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