According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in June, 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 edged up 0.4% month-to-month whereas demand deposits dropped 4.4%. M1 thus decreased 3.5% from one month earlier. Meanwhile, quasi-monetary liabilities fell 1.2%. The sum of these two items, i.e. M2, decreased 1.5% to MOP601.1 billion. On an annual basis, M1 and M2 grew 12.1% and 8.0% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.7%, 52.6%, 4.3% and 9.2% respectively.
Deposits
Resident deposits dropped 1.5% from the preceding month to MOP585.6 billion whereas non-resident deposits rose 7.3% to MOP258.3 billion. On the other hand, public sector deposits with the banking sector decreased 0.3% to MOP199.0 billion. As a result, total deposits in the banking sector grew 0.8% from a month earlier to MOP1,042.8 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.1%, 51.4%, 4.1% and 20.9% respectively.
Loans
Domestic loans to the private sector grew 1.0% from a month ago to MOP478.9 billion. Among which, MOP145.9 billion was MOP-denominated, MOP312.1 billion was denominated in HKD, MOP0.4 billion was denominated in RMB and MOP17.6 billion was denominated in USD, representing 30.5%, 65.2%, 0.1% and 3.7% of the total respectively . Analysed by economic sector, “transport, warehouse and communications” and “electricity, gas and water” increased at respective rates of 51.2% and 14.9% compared with a quarter ago, whereas “education” and “construction and public works” dropped 5.8% and 5.2% respectively.
External loans grew 4.7% to MOP502.4 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.9% (MOP9.3 billion), 36.5% (MOP183.6 billion), 6.0% (MOP30.1 billion) and 49.8% (MOP250.3 billion) respectively.
Operating ratios
At end-June, the loan-to-deposit ratio for the resident sector rose from 59.7% at end-May to 61.0%. Meanwhile, the ratio for both the resident and non-resident sectors also grew from 92.2% to 94.1%. Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 50.0% and 54.7% respectively. Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.