According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money increased marginally in June. As loans grew faster than deposits, the overall loan-to-deposit ratio continued to rise.
Money supply
Currency in circulation grew 0.9% whereas demand deposits dropped 4.9%. M1 thus decreased 4.1% when compared with the previous month. Quasi-monetary liabilities rose by 1.1%. M2 therefore edged up by 0.3% to MOP271.3 billion. On an annual basis, M1 and M2 rose 6.5% and 22.1% respectively. The share of Pataca (MOP) in M2 stood at 26.6%, up 0.2 percentage points over a month ago but down 0.8 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 53.6%, down 1.1 percentage points month-to-month and 1.3 percentage points year-on-year.
Deposits
Resident deposits grew 0.3% from the previous month to MOP265.1 billion. Of which, MOP deposits and other foreign currency deposits increased at respective rates of 1.0% and 5.1% while HKD deposits dropped 1.6%. Concurrently, non-resident deposits edged down 0.2% to MOP92.0 billion and public sector deposits with the banking sector increased 3.9% to MOP22.9 billion. As a result, total deposits with the banking sector grew 0.4% from a month earlier to MOP380.0 billion. The shares of MOP and HKD in total deposits were 22.0% and 44.6% respectively.
Loans
Domestic loans to the private sector increased 4.8% on a monthly basis to MOP156.7 billion. Among which, MOP39.7 billion was MOP-denominated and MOP103.3 billion was denominated in HKD, representing 25.3% and 65.9% of the total respectively. Loans to "manufacturing industries", loans to "restaurants, hotels and similar" as well as "other personal credit" increased quarter-to-quarter at respective rates of 23.3%, 22.5% and 17.6% whereas those to "gaming" dropped 24.4%. Meanwhile, external loans increased 5.0% to MOP158.4 billion; of which, loans denominated in MOP and HKD accounted for 0.2% (MOP0.4 billion) and 32.4% (MOP51.3 billion) respectively.
Loan-to-deposit ratios
As domestic loans to the private sector grew faster than resident deposits, the loan-to-deposit ratio for the resident sector at end-June 2011 rose 2.2 percentage points month-to-month to 54.4%. The ratio for both the resident and non-resident sectors also grew 3.6 percentage points from the previous month to 83.0%. Annex Table
For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
