According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply continued to grow in May. Driven by a faster increase in total loans, the overall loan-to-deposit ratio of the banking sector rose from a month earlier.

Money supply

Currency in circulation and demand deposits dropped 0.8% and 4.6% respectively. M1 thus decreased 4.0% from one month earlier. In the meantime, quasi-monetary liabilities rose 2.0%, pushing M2 to increase by 1.2% to MOP320.5 billion. On an annual basis, M1 and M2 rose 1.8% and 18.6% respectively. The share of Pataca (MOP) in M2 stood at 25.8%, staying flat from a month ago but down 0.7 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 54.3%, down 0.7 percentage points month-to-month and 0.3 percentage points year-on-year.

Deposits

Resident deposits grew 1.3% from the preceding month to MOP313.6 billion. Of which, MOP deposits and other foreign currency deposits increased at respective rates of 1.4% and 5.2% while HKD deposits dropped 0.2%. Concurrently, non-resident deposits dropped 3.2% to MOP123.5 billion and public sector deposits with the banking sector increased 3.9% to MOP39.4 billion. As a result, total deposits with the banking sector rose 0.3% from a month earlier to MOP476.6 billion. The shares of MOP and HKD in total deposits were 21.3% and 44.5% respectively.

Loans

Domestic loans to the private sector increased 1.6% on a monthly basis to MOP175.3 billion. Among which, MOP47.6 billion was MOP-denominated and MOP110.4 billion was denominated in HKD, representing 27.2% and 63.0% of the total respectively. On the other hand, external loans rose 2.8% to MOP188.5 billion; of which, loans denominated in MOP and HKD accounted for 0.6% (MOP1.2 billion) and 26.2% (MOP49.3 billion) respectively.

Loan-to-deposit ratios

As the growth rates of resident deposits (including the public sector) and domestic loans to the private sector were similar, the loan-to-deposit ratio for the resident sector at end-May 2012 remained fairly unchanged from the previous month at 49.7%. The ratio for both the resident and non-resident sectors was 76.3%, up 1.5 percentage points from the previous month.

For enquiry, please contact:

Research and Statistics Department, Monetary Authority of Macao

(Tel: 83952532; Fax: 28353042)