According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money witnessed a slight decline in September. As loans to non-residents exhibited a significant decrease, the overall loan-to-deposit ratio continued to fall. Money supply
Currency in circulation and demand deposits grew 2.3% and 7.1% respectively. M1 thus increased 6.3% from one month earlier. Concurrently, quasi-monetary liabilities dropped 1.1%, driving M2 to edge down by 0.2% to MOP278.6 billion. On an annual basis, M1 and M2 rose 6.2% and 17.6% respectively. The share of Pataca (MOP) in M2 stood at 25.5%, down 0.2 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 53.0%, down 0.4 percentage points month-to-month and 1.6 percentage points year-on-year. Deposits
Resident deposits dropped 0.2% from the previous month to MOP272.4 billion. Of which, MOP deposits and HKD deposits decreased at respective rates of 1.1% and 0.9% while other foreign currency deposits grew 2.6%. In the meantime, non-resident deposits rose 1.5% to MOP94.7 billion and public sector deposits with the banking sector also increased 4.6% to MOP24.2 billion. As a result, total deposits with the banking sector grew 0.5% from a month earlier to MOP391.3 billion. The shares of MOP and HKD in total deposits were 21.2% and 43.9% respectively. Loans
Domestic loans to the private sector increased 2.4% on a monthly basis to MOP164.9 billion. Among which, MOP41.3 billion was MOP-denominated and MOP108.2 billion was denominated in HKD, representing 25.1% and 65.6% of the total respectively. Compared with a quarter ago, loans to "construction and public works", "wholesale and retail trade" and "transport, warehouse and communications" increased at respective rates of 19.2%, 17.3% and 6.7% whereas those to "restaurants, hotels and similar" and "manufacturing industries" dropped 9.4% and 8.0% respectively. External loans decreased 3.8% to MOP147.8 billion; of which, loans denominated in MOP and HKD accounted for 0.3% (MOP0.4 billion) and 34.0% (MOP50.2 billion) respectively.
Loan-to-deposit ratios
As domestic loans to the private sector increased while resident deposits dropped, the loan-to-deposit ratio for the resident sector at end-September 2011 rose 1.2 percentage points month-to-month to 55.6%. The ratio for both the resident and non-resident sectors was 79.9%, down slightly by 0.9 percentage points from the previous month.
