Monetary and financial statistics – June 2019

According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in June with a stable share of patacas. Meanwhile, resident deposits dropped from a month earlier whereas loans to residents posted an increase.

Money supply

Currency in circulation rose 0.6% month-to-month whereas demand deposits dropped 4.2%. M1 thus decreased 3.3% from one month earlier. On the other hand, quasi-monetary liabilities grew 0.3%. The sum of these two items, i.e. M2, fell 0.2% to MOP671.1 billion. On an annual basis, M1 and M2 increased 6.3% and 11.0% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 30.9%, 48.9%, 4.4% and 14.0% respectively.

Deposits

Resident deposits fell 0.2% from the preceding month to MOP654.7 billion whereas non-resident deposits rose 9.7% to MOP274.5 billion. Meanwhile, public sector deposits with the banking sector remained virtually stable at MOP248.8 billion. As a result, total deposits in the banking sector grew 2.0% from a month earlier to MOP1,178.0 billion. The shares of MOP, HKD, RMB and USD in total deposits were 18.6%, 49.5%, 3.8% and 25.8% respectively.

Loans

Domestic loans to the private sector grew 1.6% from a month ago to MOP514.9 billion. Analysed by economic sector, “electricity, gas and water” and “construction and public works” increased at respective rates of 15.3% and 5.3% compared with a quarter ago, whereas “information technology” and “restaurants, hotels and similar” dropped 38.5% and 18.3% respectively. Meanwhile, external loans rose by 4.1% to MOP578.1 billion. As a result, total loans to the private sector increased 2.9% from a month earlier to MOP1,093.0 billion. The shares of MOP, HKD, RMB and USD in total loans were 16.4%, 48.4%, 7.7% and 24.7% respectively.

Operating ratios

At end-June, the loan-to-deposit ratio for the resident sector rose from 56.0% at end-May to 57.0%. Meanwhile, the ratio for both the resident and non-resident sectors grew from 91.9% to 92.8%. The one-month and three-month current assets to liabilities ratios stood at 53.4% and 52.3% respectively. Concurrently, the non-performing loan ratio stabilised at 0.3%.



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