According to statistics released today by the Monetary Authority of Macao, broad money supply rebounded in July with a stable share of patacas.  Meanwhile, both resident deposits and loans increased from a month earlier.

Money supply

Currency in circulation dropped 0.7% month-to-month whereas demand deposits rose 2.2%.  M1 thus increased 1.6% from one month earlier.  Meanwhile, quasi-monetary liabilities rose 2.0%.  The sum of these two items, i.e. M2, increased 1.9% to MOP616.4 billion.  On an annual basis, M1 and M2 grew 16.4% and 8.5% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.9%, 52.2%, 4.5% and 9.5% respectively.

Deposits

Resident deposits grew 2.0% from the preceding month to MOP600.9 billion whereas non-resident deposits fell 5.5% to MOP240.6 billion.  On the other hand, public sector deposits with the banking sector increased 8.0% to MOP214.9 billion.  As a result, total deposits in the banking sector grew 1.3% from a month earlier to MOP1,056.4 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 20.2%, 51.2%, 4.5% and 20.9% respectively.

Loans

Domestic loans to the private sector grew 0.6% from a month ago to MOP481.5 billion while external loans also rose 0.6% to MOP506.1 billion. As a result, total loans to the private sector increased 0.6% from a month earlier to MOP987.6 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.0%, 50.4%, 3.2% and 27.2% respectively.

Operating ratios

At end-July, the loan-to-deposit ratio for the resident sector dropped from 60.7% at end-June to 59.0%.  Meanwhile, the ratio for both the resident and non-resident sectors fell from 94.1% to 93.5%.  The one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 51.7% and 54.9% respectively.  Concurrently, the non-performing loan ratio remained virtually stable at 0.2%.