According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money resumed its growth in October. As total deposits grew much faster than total loans, the overall loan-to-deposit ratio continued to fall.
Money supply
Currency in circulation and demand deposits grew 1.4% and 2.2% respectively. M1 thus increased 2.1% from one month earlier. Concurrently, quasi-monetary liabilities rose 5.4%, pushing M2 to grow 5.0% to MOP292.1 billion. On an annual basis, M1 and M2 rose 14.9% and 19.5% respectively. The share of Pataca (MOP) in M2 stood at 25.0%, down 0.5 percentage points over a month ago and 2.5 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 52.4%, down 0.7 percentage points month-to-month and 3.4 percentage points year-on-year.
Deposits
Resident deposits increased 5.1% from the previous month to MOP286.2 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits grew at respective rates of 3.0%, 3.6% and 11.0%. In the meantime, non-resident deposits rose 1.7% to MOP96.3 billion and public sector deposits with the banking sector also increased 5.7% to MOP25.6 billion. As a result, total deposits with the banking sector grew 4.3% from a month earlier to MOP408.1 billion. The shares of MOP and HKD in total deposits were 21.0% and 43.6% respectively.
Loans
Domestic loans to the private sector edged up 0.1% on a monthly basis to MOP165.1 billion. Among which, MOP41.3 billion was MOP-denominated and MOP109.2 billion was denominated in HKD, representing 25.0% and 66.2% of the total respectively. On the other hand, external loans rose 0.4% to MOP148.3 billion, of which loans denominated in MOP and HKD accounted for 0.2% (MOP0.4 billion) and 33.0% (MOP49.0 billion) respectively.
Loan-to-deposit ratios
As resident deposits grew much faster than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-October 2011 dropped 2.7 percentage points month-to-month to 53.0%. The ratio for both the resident and non-resident sectors was 76.8%, down by 3.1 percentage points from the previous month. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
