Monetary and Financial Statistics – June 2010

Monetary Authority of Macao

2010-08-09 11:59

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According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 resumed its growth in June. As loans grew at a faster pace than deposits, the loan-to-deposit ratio continued to rise.

Money supply

Currency in circulation decreased slightly by 0.3% whereas demand deposits increased 3.0%. M1 thus rose 2.5% compared with the previous month. Meanwhile, quasi-monetary liabilities rose 2.9%. The sum of these two items, i.e. M2, increased 2.8% to MOP222.2 billion. On an annual basis, M1 and M2 rose 27.7% and 9.3% respectively. The share of Pataca (MOP) in M2 stood at 27.5%, down 0.2 percentage points over a month ago or 1.0 percentage point from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 54.9%, up 0.7 percentage points month-to-month or 1.2 percentage points year-on-year.

Deposits

Resident deposits grew 2.9% from the previous month to MOP217.1 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 2.2%, 4.1% and 0.2%. Meanwhile, non-resident deposits dropped 0.7% to MOP70.8 billion and public sector deposits with the banking sector decreased 2.9% to MOP15.1 billion. As a result, total deposits with the banking sector grew 1.7% from the previous month to MOP303.0 billion. The shares of MOP and HKD in total deposits were 22.1% and 47.6% respectively.

Loans

Domestic loans to the private sector grew 3.3% in June to MOP112.0 billion. Among which, MOP34.0 billion was MOP-denominated and MOP69.8 billion was denominated in HKD, representing 30.4% and 62.3% of the total respectively. Loans to “trade (wholesale and retail)”, “personal housing loans” and “manufacturing industries” increased quarter-to-quarter at respective rates of 16.5%, 11.4% and 10.8% whereas those to “gaming” and “restaurants, hotels and similar” dropped 12.5% and 12.4% respectively.

Meanwhile, external loans increased 2.2% to MOP111.7 billion; of which, loans denominated in MOP and HKD accounted for 0.8% (MOP0.9 billion) and 40.5% (MOP45.3 billion) of the total respectively.

Loan-to-deposit ratios

As domestic loans to the private sector rose at a faster pace than resident deposits, the loan-to-deposit ratio for the resident sector at end-June 2010 rose slightly by 0.4 percentage points month-to-month to 48.2%. The ratio for both the resident and non-resident sectors stood at 73.8%, up 0.7 percentage points from the previous month.