According to the statistics released today by the Monetary Authority of Macao, the proportion of international business in the local banking sector increased further in the first quarter of 2011. At end-March 2011, the share of international assets in total banking assets rose to 86.9% from 86.0% at end-2010, whereas the share of international liabilities in total banking liabilities went up to 79.7% from 78.7%. Foreign currencies remained as the dominant denomination in international banking transactions. At end-March 2011, the shares of Pataca (MOP) in total international assets and total international liabilities were 0.2% and 2.0% respectively. Hong Kong Dollar (HKD) and Other Foreign Currencies (OFCs) accounted for 42.0% and 57.7% of total international assets as well as 47.5% and 50.5% of total international liabilities respectively. International Banking Assets
At end-March 2011, total international assets increased by 8.9% from three months earlier or 36.0% year-on-year to MOP505.6 billion (USD63.0 billion). Within this total, external assets expanded by 34.5% from a year earlier to MOP392.2 billion while local assets in foreign currencies soared by 41.5% to MOP113.4 billion. As a major component of international assets, external loans & deposits jumped by 37.9% over a year earlier to MOP367.1 billion. Within this total, loans to overseas non-banks grew markedly by 28.4% from a quarter earlier or 39.4% from a year earlier. International Banking Liabilities
Meanwhile, total international liabilities expanded by 9.1% quarter-to-quarter or 34.5% from a year earlier to MOP463.8 billion (USD57.8 billion). Of this total, external liabilities and local liabilities in foreign currencies amounted to MOP252.2 billion and MOP211.5 billion in respective order. Compared with a year earlier, the former grew markedly by 43.6% while the latter increased by 25.1%. Foreign currency deposits held by residents in the local banking system formed a major component of international liabilities. This type of deposits grew by 20.6% to MOP194.9 billion at end-March 2011 from MOP161.6 billion a year earlier. Breakdown of External Banking Assets and Liabilities by Region
The majority of external assets and liabilities were related to the regions of Asia and Europe. At end-March 2011, claims on Hong Kong and Mainland China occupied respectively 37.5% and 16.6% of total external assets, while claims on Portugal took up 12.3%. On external liabilities, Hong Kong and Mainland China occupied 47.4% and 22.0% of the total respectively while France and Portugal took up respective shares of 7.3% and 6.9%. The compilation of International Banking Statistics follows the methodology advocated by the Bank for International Settlements in order to facilitate Macao SAR's participation in the "Locational International Banking Statistics" project of the international organisation.
