Monetary and Financial Statistics – April 2009

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 increased in April. As both deposits with banks and total loans slid slightly, the loan-to-deposit ratio remained largely unchanged from a month ago. Money supply
Currency in circulation increased whereas demand deposits noted a decline. M1 thus shrank 6.0% month-to-month. On the other hand, quasi-monetary liabilities rose 1.4%. The sum of these two items, i.e. M2, grew slightly by 0.4% to MOP197.5 billion. On an annual basis, M1 and M2 rose 10.7% and 6.8% respectively. The share of Pataca (MOP) in M2 stood at 28.4%, up 0.1 percentage point over a month ago or 0.6 percentage points over a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.5%, down 0.1 percentage point month-to-month or up 0.2 percentage points year-on-year. Deposits
Resident deposits rose by 0.4% from the previous month to MOP192.9 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits grew at respective rates of 0.6%, 0.3% and 0.5%. On the contrary, non-resident deposits and public sector deposits with the banking sector fell 2.6% (to MOP70.6 billion) and 2.9% (to MOP13.2 billion) respectively. As a result, total deposits with the banking sector edged down by 0.6% from the previous month to MOP276.7 billion. The shares of MOP and HKD in total deposits were 22.4% and 45.3% respectively. Loans
Domestic loans to the private sector grew 0.2% month-to-month to MOP92.0 billion. Among which, MOP19.2 billion was MOP-denominated and MOP66.8 billion was denominated in HKD, representing 20.8% and 72.6% of the total respectively. On the other hand, external loans dropped by 2.0% to MOP56.5 billion; of which, loans denominated in MOP and HKD accounted for 1.9% and 57.6% respectively of the total, at values of MOP1.1 billion and MOP32.5 billion. Loan-to-deposit ratios
As the growth pace of domestic loans to the private sector is similar to that of resident deposits and public sector deposits with the banking sector, the loan-to-deposit ratio for the resident sector at end-April 2009 remained virtually unchanged from a month ago at 44.7%. The ratio for both the resident and non-resident sectors also stayed flat at 53.7%.