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BOK REPORTS EXCESS FUNDS BY HOUSEHOLDS AND NON-PROFIT AGENCIES ROSE IN Q3

Summary

Highlights – BOK reports excess funds by households and non-profit agencies rose in Q3. The net financial funds held by the above amounted to 30.7 trillion won. For Q2 of 2020 their excess funds grew to more than 60 trillion […]

Highlights –

  • BOK reports excess funds by households and non-profit agencies rose in Q3.
  • The net financial funds held by the above amounted to 30.7 trillion won.
  • For Q2 of 2020 their excess funds grew to more than 60 trillion won.
  • Net borrowing of non-financial enterprises came to 14.9 trillion won in Q3.

Bank of Korea (BOK) on Thursday announced that excess funds held by South Korean households and nonprofit agencies rose in the third quarter of last year due to an increase in stock investments.

According to the data published by BOK, net financial funds, which is the value of financial assets minus financial liabilities held by local households and nonprofit organizations serving households amounted to 30.7 trillion won (US$28.2 billion) in the July-September period, up from 16.6 trillion won a year earlier.

Excess funds refer to the volume of money that remains on the balance sheets of households after people manage available funds via deposits, stock investments and other means.

The data showed that their excess funds grew to more than 60 trillion won for the second quarter last year on the back of increased liquidity meant to support the economy hit by the coronavirus pandemic.

According to the BOK, net borrowing of non-financial enterprises came to 14.9 trillion won in the third quarter, compared with 17.8 trillion won a year earlier.

The government sector also saw its net borrowing reached 8.8 trillion won in the third quarter, down from 16.4 trillion won the previous year.

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