According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in February with a stable share of patacas. Meanwhile, resident deposits dropped from a month earlier while loans to residents remained broadly stable.
Money supply
Currency in circulation and demand deposits fell 4.7% and 0.9% respectively. M1 thus decreased 1.7% from one month earlier. Meanwhile, quasi-monetary liabilities dropped 0.5%. The sum of these two items, i.e. M2, decreased 0.7% to MOP654.2 billion. On an annual basis, M1 and M2 increased 3.9% and 7.9% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.3%, 51.5%, 4.5% and 10.9% respectively.
Deposits
Resident deposits dropped 0.6% from the preceding month to MOP637.3 billion whereas non-resident deposits rose 9.1% to MOP262.1 billion. Meanwhile, public sector deposits with the banking sector increased 2.3% to MOP239.2 billion. As a result, total deposits in the banking sector increased 2.1% from a month earlier to MOP1,138.5 billion. The shares of MOP, HKD, RMB and USD in total deposits were 19.1%, 51.0%, 4.1% and 23.0% respectively.
Loans
Domestic loans to the private sector remained virtually unchanged from the preceding month at MOP505.0 billion while external loans went up by 1.5% to MOP533.4 billion. As a result, total loans to the private sector increased 0.8% from a month earlier to MOP1,038.4 billion. The shares of MOP, HKD, RMB and USD in total loans were 16.3%, 50.6%, 4.3% and 25.7% respectively.
Operating ratios
At end-February, the loan-to-deposit ratio for the resident sector dropped from 57.7% at end-January to 57.6%. Meanwhile, the ratio for both the resident and non-resident sectors fell from 92.4% to 91.2%. The one-month and three-month current assets to liabilities ratios stood at 55.0% and 51.6% respectively. Concurrently, the non-performing loan ratio stabilised at 0.2%.