Monetary and Financial Statistics – August 2013

According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in August. As total deposits grew at a faster pace than total loans, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier.
Money supply
Currency in circulation grew 1.7% whereas demand deposits dropped 0.5%. M1 thus decreased 0.2% from one month earlier. Concurrently, quasi-monetary liabilities rose 2.5%. The sum of these two items, i.e. M2, increased 2.1% to MOP419.3 billion. On an annual basis, M1 and M2 rose 34.4% and 20.5% respectively. The share of Pataca (MOP) in M2 stood at 24.7%, down 0.3 percentage points from a month ago but kept virtually unchanged from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 52.9%, up 0.2 percentage points month-to-month but down 2.6 percentage points year-on-year.
Deposits
Resident deposits rose 2.1% from the preceding month to MOP410.8 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 0.8%, 2.5% and 2.6%. Non-resident deposits grew 3.6% to MOP161.0 billion. Public sector deposits with the banking sector increased 5.0% to MOP61.9 billion. As a result, total deposits with the banking sector grew 2.8% from a month earlier to MOP633.6 billion. The shares of MOP and HKD in total deposits were 20.1% and 45.3% respectively.
Loans
Domestic loans to the private sector increased 3.3% from a month ago to MOP240.8 billion. Among which, MOP75.6 billion was MOP-denominated and MOP140.7 billion was denominated in HKD, representing 31.4% and 58.4% of the total respectively. On the other hand, external loans rose 0.2% to MOP267.0 billion; of which, loans denominated in MOP and HKD accounted for 1.1% (MOP3.0 billion) and 22.6% (MOP60.3 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-August rose 0.4 percentage points from the previous month to 51.0%. The ratio for both the resident and non-resident sectors dropped 0.9 percentage points to 80.1%.