According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply continued to grow in August. As deposits with banks rose and total loans decreased, the loan-to-deposit ratio dropped from a month earlier.
Money supply
Currency in circulation and demand deposits decreased 0.9% and 10.5% respectively. M1 thus dropped 9.0% when compared with the previous month. Meanwhile, quasi-monetary liabilities rose by 3.5%. M2 therefore increased by 1.7% to MOP279.1 billion. On an annual basis, M1 dropped 1.7% while M2 rose 21.2%. The share of Pataca (MOP) in M2 stood at 25.7%, down 0.6 percentage points over a month ago and 3.0 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 53.4%, down 0.8 percentage points month-to-month and 0.5 percentage points year-on-year.
Deposits
Resident deposits grew 1.8% from the previous month to MOP273.0 billion. Of which, MOP deposits dropped 0.4% while HKD deposits and other foreign currency deposits increased at respective rates of 0.3% and 8.7%. Concurrently, non-resident deposits grew 1.3% from the previous month to MOP93.3 billion, while public sector deposits with the banking sector decreased by 1.4% to MOP23.1 billion. As a result, total deposits with the banking sector grew 1.5% from a month earlier to MOP389.4 billion. The shares of MOP and HKD in total deposits were 21.2% and 44.3% respectively.
Loans
Domestic loans to the private sector grew 1.2% on a monthly basis to MOP161.0 billion. Among which, MOP40.8 billion was MOP-denominated and MOP105.1 billion was denominated in HKD, representing 25.3% and 65.3% of the total respectively. On the other hand, external loans dropped 2.7% to MOP153.6 billion; of which, loans denominated in MOP and HKD accounted for 0.2% (MOP0.4 billion) and 33.0% (MOP50.7 billion) respectively.
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-August 2011 dropped marginally by 0.2 percentage points month-to-month to 54.4%. The ratio for both the resident and non-resident sectors also fell 1.8 percentage points from the previous month to 80.8%. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
