Monetary and Financial Statistics – May 2009

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply M2 continued to increase in May. As total deposits with banks rose at a faster pace than total loans, the loan-to-deposit ratio slid slightly from a month ago. Money supply
Due to the increases of currency in circulation and demand deposits, M1 rose 4.9% month-to-month. Meanwhile, quasi-monetary liabilities edged up by 1.9%. The sum of these two items, i.e. M2, rose 2.3% to MOP201.9 billion. On an annual basis, M1 and M2 rose 12.2% and 9.4% respectively. The share of Pataca (MOP) in M2 stood at 28.2%, down 0.2 percentage points over a month ago but up 0.1 percentage point from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.6%, up 0.2 percentage points month-to-month or 0.6 percentage points year-on-year. Deposits
Resident deposits rose by 2.3% from the previous month to MOP197.3 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits grew at respective rates of 1.6%, 2.6% and 2.3%. Meanwhile, non-resident deposits climbed 1.2% to MOP71.5 billion whereas public sector deposits with the banking sector slid slightly by 0.7% to MOP13.1 billion. As a result, total deposits with the banking sector edged up 1.9% from the previous month to MOP281.9 billion. The shares of MOP and HKD in total deposits were 22.2% and 45.4% respectively. Loans
Domestic loans to the private sector grew 0.7% month-to-month to MOP92.7 billion. Among which, MOP19.8 billion was MOP-denominated and MOP66.8 billion was denominated in HKD, representing 21.3% and 72.1% of the total respectively. In the meantime, external loans rose by 3.3% to MOP58.3 billion; of which, loans denominated in MOP and HKD accounted for 1.8% and 58.0% respectively of the total, at values of MOP1.1 billion and MOP33.8 billion. Loan-to-deposit ratios
As resident deposits grew faster than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-May 2009 dropped by 0.6 percentage points month-to-month to 44.1%. The ratio for both the resident and non-resident sectors stood at 53.6%, down slightly by 0.1 percentage point.