According to statistics released today by the Monetary Authority of Macao, money supply retreated in February. As total loans increased whereas total deposits decreased, the overall loan-to-deposit ratio of the banking sector rose from a month earlier. Money supply Currency in circulation grew 8.1% whereas demand deposits dropped 4.5%. M1 thus decreased 2.2% from one month earlier. Concurrently, quasi-monetary liabilities fell 2.4%. The sum of these two items, i.e. M2, decreased 2.4% to MOP481.7 billion. On an annual basis, M1 and M2 rose 5.5% and 5.4% respectively. The share of Pataca (MOP) in M2 stood at 27.6%, up 0.9 percentage points from a month ago or 3.0 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 50.3%, down 0.4 percentage points month-to-month or 0.1 percentage point year-on-year. The share of Chinese Yuan (CNY) was 11.9%, down 0.8 percentage points month-to-month or 4.3 percentage points year-on-year. The share of United States Dollar (USD) was 8.1%, up 0.3 percentage points month-to-month or 1.4 percentage points year-on-year. Deposits Resident deposits decreased 2.6% from the preceding month to MOP469.6 billion. Of which, MOP and USD deposits increased at respective rates of 0.1% and 1.5% while HKD, CNY and other foreign currency deposits decreased 3.1%, 8.7% and 0.6% respectively. Non-resident deposits grew 1.6% to MOP244.7 billion. Public sector deposits with the banking sector increased 3.0% to MOP105.8 billion. As a result, total deposits with the banking sector dropped 0.7% from a month earlier to MOP820.1 billion. The shares of MOP, HKD, CNY and USD in total deposits were 19.1%, 42.1%, 13.7% and 20.4% respectively. Loans Domestic loans to the private sector increased 0.4% from a month ago to MOP346.2 billion. Among which, MOP94.2 billion was MOP-denominated, MOP224.9 billion was denominated in HKD, MOP1.6 billion was denominated in CNY and MOP24.4 billion was denominated in USD, representing 27.2%, 65.0%, 0.5% and 7.1% of the total respectively. On the other hand, external loans grew 1.8% to MOP355.0 billion; of which, loans denominated in MOP, HKD, CNY and USD accounted for 1.3% (MOP4.8 billion), 21.9% (MOP77.6 billion), 17.5% (MOP62.0 billion) and 54.5% (MOP193.6 billion) respectively. Loan-to-deposit ratios The loan-to-deposit ratio for the resident sector at end-February rose 1.2 percentage points from the previous month to 60.2%. The ratio for both the resident and non-resident sectors also grew 1.5 percentage points to 85.5%.
