Banking Statistics - March Quarter, 2022
Key facts
For the March Quarter 2022:
- Net foreign assets decreased to 327.6 million.
- Total lending for the March quarter 2022 sat at $259.5 million.
- The money supply decreased by 5.6 per cent.
- Interest rates remained stable for most of the banks reported.
Information about Banking Statistics
Aggregates are compiled from the Banking Survey which covers the Four commercial banks in the Cook Islands: ANZ, Bank of the South Pacific (BSP), 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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