Monetary and financial statistics – May 2019

According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in May with a stable share of patacas. Meanwhile, resident deposits rose from a month ago whereas loans to residents posted a decline.

Money supply

Currency in circulation fell 1.5% month-to-month whereas demand deposits rose 6.3%. M1 thus increased 4.8% from one month earlier. Meanwhile, quasi-monetary liabilities grew 0.4%. The sum of these two items, i.e. M2, rose 0.9% to MOP671.2 billion. On an annual basis, M1 and M2 increased 7.1% and 10.0% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 30.2%, 50.4%, 4.4% and 13.1% respectively.

Deposits

Resident deposits grew 1.0% from the preceding month to MOP654.8 billion while non-resident deposits also rose 0.2% to MOP251.5 billion. Meanwhile, public sector deposits with the banking sector increased 2.8% to MOP248.8 billion. As a result, total deposits in the banking sector increased 1.2% from a month earlier to MOP1,155.2 billion. The shares of MOP, HKD, RMB and USD in total deposits were 18.5%, 50.8%, 3.8% and 24.4% respectively.

Loans

Domestic loans to the private sector fell 1.3% from a month ago to MOP505.7 billion while external loans also dropped 0.7% to MOP556.3 billion. As a result, total loans to the private sector decreased 1.0% from a month earlier to MOP1,061.9 billion. The shares of MOP, HKD, RMB and USD in total loans were 16.3%, 49.3%, 6.2% and 25.5% respectively.

Operating ratios

At end-May, the loan-to-deposit ratio for the resident sector dropped from 57.5% at end-April to 56.0%. Meanwhile, the ratio for both the resident and non-resident sectors fell from 94.0% to 91.9%. The one-month and three-month current assets to liabilities ratios stood at 52.5% and 51.0% respectively. Concurrently, the non-performing loan ratio stabilised at 0.3%.



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