Monetary and Financial Statistics – February 2009

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 noted a decrease. Deposits with banks declined slightly whereas domestic loans to the private sector saw an increase. As a result, the loan-to-deposit ratio edged up from a month ago. Money supply
Due to the decreases of currency in circulation and demand deposits, M1 shrank 4.9% month-to-month. Quasi-monetary liabilities also edged down by 0.2%. The sum of these two items, i.e. M2, thus slid 0.8% to MOP192.6 billion. On an annual basis, M1 and M2 rose 13.7% and 2.6% respectively. The share of Pataca (MOP) in M2 stood at 28.9%, down 0.2 percentage points over a month ago or up 0.9 percentage
points over a year earlier respectively. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 52.3%, up 0.4 percentage points month-to-month or down 2.6 percentage points year-on-year. Deposits
Resident deposits edged down by 0.6% from the previous month to MOP188.0 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits fell at respective rates of 0.6%, 0.1% and 2.1%. On the other hand, non-resident deposits and public sector deposits with the banking sector rose 0.4% (to MOP72.1 billion) and 2.3% (to MOP13.5 billion) respectively. As a result, total deposits in the banking sector slid 0.2% from the previous month to MOP273.6 billion. The shares of MOP and HKD in
total deposits were 22.7% and 44.8% respectively. Loans
Domestic loans to the private sector grew 0.9% month-to-month to MOP91.4 billion. Among which, MOP18.8 billion was MOP-denominated and MOP67.0 billion was denominated in HKD, representing 20.5% and 73.2% of the total respectively. External loans declined by 1.1% to MOP56.4 billion; of which, loans denominated in MOP and HKD accounted for 1.9% and 55.9% respectively of the total, at values of MOP1.1 billion and MOP31.5 billion. Loan-to-deposit ratios
Due to the decline in resident deposits and increase in domestic loans to the private sector, the loan-todeposit
ratio for the resident sector at end-February 2009 increased by 0.6 percentage points month-tomonth to 45.4%. The ratio for both the resident and non-resident sectors stood at 54.0%, up 0.2 percentage points. Annex Table
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Research and Statistics Department, Monetary Authority of Macao
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