According to statistics released today by the Monetary Authority of Macao, broad money supply grew marginally in May. As total loans increased at a faster pace than total deposits, the overall loan-to-deposit ratio of the banking sector rose from a month earlier. Money supply Currency in circulation grew 1.0% whereas demand deposits dropped 1.9%. M1 thus decreased 1.4% from one month earlier. Concurrently, quasi-monetary liabilities rose 0.4%. The sum of these two items, i.e. M2, increased 0.2% to MOP493.4 billion. On an annual basis, M1 and M2 rose 1.3% and 4.1% respectively. The share of Pataca (MOP) in M2 stood at 26.7%, down 0.1 percentage point from a month ago but up 2.8 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 50.9%, down 0.3 percentage points month-to-month but up 1.7 percentage points year-on-year. The share of Chinese Yuan (CNY) was 11.4%, down 0.2 percentage points month-to-month or 5.6 percentage points year-on-year. The share of United States Dollar (USD) was 8.8%, up 0.7 percentage points month-to-month or 0.9 percentage points year-on-year. Deposits Resident deposits increased 0.2% from the preceding month to MOP481.8 billion. Of which, MOP, HKD and CNY deposits decreased at respective rates of 0.4%, 0.4% and 1.9%. USD deposits increased 8.5% while other foreign currency deposits kept virtually stable. Non-resident deposits grew 4.1% to MOP248.3 billion. Public sector deposits with the banking sector decreased 3.5% to MOP118.7 billion. As a result, total deposits with the banking sector rose 0.8% from a month earlier to MOP848.7 billion. The shares of MOP, HKD, CNY and USD in total deposits were 18.3%, 42.6%, 13.6% and 21.2% respectively. Loans Domestic loans to the private sector increased 2.0% from a month ago to MOP367.1 billion. Among which, MOP97.5 billion was MOP-denominated, MOP242.3 billion was denominated in HKD, MOP3.2 billion was denominated in CNY and MOP21.9 billion was denominated in USD, representing 26.6%, 66.0%, 0.9% and 6.0% of the total respectively. On the other hand, external loans grew 2.6% to MOP368.0 billion; of which, loans denominated in MOP, HKD, CNY and USD accounted for 1.5% (MOP5.6 billion), 22.5% (MOP82.7 billion), 18.4% (MOP67.6 billion) and 51.7% (MOP190.3 billion) respectively. Loan-to-deposit ratios The loan-to-deposit ratio for the resident sector at end-May grew 1.5 percentage points from the previous month to 61.1%. The ratio for both the resident and non-resident sectors also rose 1.3 percentage points to 86.6%.
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