According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in February, with the share of patacas remained stable. On the other hand, resident deposits dropped from a month earlier whereas loans to residents posted an increase.
Money supply
Currency in circulation and demand deposits grew 6.0% and 0.3% respectively. M1 thus increased 1.5% from one month earlier. On the other hand, quasi-monetary liabilities dropped 0.8%. The sum of these two items, i.e. M2, decreased 0.5% to MOP606.1 billion. On an annual basis, M1 and M2 grew 11.7% and 12.1% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.2%, 53.5%, 4.2% and 9.2% respectively.
Deposits
Resident deposits dropped 0.7% from the preceding month to MOP589.9 billion while non-resident deposits also fell 1.1% to MOP254.7 billion. On the other hand, public sector deposits with the banking sector increased 4.7% to MOP197.4 billion. As a result, total deposits in the banking sector edged up 0.2% from a month earlier to MOP1,042.0 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.1%, 51.8%, 3.7% and 21.5% respectively.
Loans
Domestic loans to the private sector grew 0.8% from a month ago to MOP462.4 billion. Among which, MOP138.2 billion was MOP-denominated, MOP301.2 billion was denominated in HKD, MOP0.3 billion was denominated in RMB and MOP19.2 billion was denominated in USD, representing 29.9%, 65.1%, 0.1% and 4.1% of the total respectively. On the other hand, external loans edged down 0.1% to MOP445.1 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 2.1% (MOP9.1 billion), 32.7% (MOP145.3 billion), 8.8% (MOP39.2 billion) and 49.9% (MOP222.0 billion) respectively.
Operating ratios
At end-February, the loan-to-deposit ratio for the resident sector edged up from 58.6% at end-January to 58.7%. Meanwhile, the ratio for both the resident and non-resident sectors also rose from 87.0% to 87.1%. Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 55.4% and 57.4% respectively. Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.