Monetary and Financial Statistics – October 2009

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 continued to grow in October. Although total deposits with banks exhibited a rise, the loan-to-deposit ratio still increased from a month ago on a strong growth of external loans. Money supply
Currency in circulation noted a decline of 1.3% whereas demand deposits increased 5.1%. M1 thus rose 4.0% compared with the previous month. Meanwhile, quasi-monetary liabilities edged up by 0.8%. The sum of these two items, i.e. M2, grew 1.3% to MOP211.0 billion. On an annual basis, M1 and M2 rose 40.5% and 11.3% respectively. The share of Pataca (MOP) in M2 stood at 28.0%, down slightly by 0.1 percentage point over a month ago and stayed flat when compared with the same period last year. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.8%, up 0.4 percentage points month-to-month or 2.2 percentage points year-on-year. Deposits
Resident deposits rose 1.3% from the previous month to MOP206.2 billion. Of which, MOP deposits and HKD deposits grew at respective rates of 1.0% and 2.1%, while other foreign currency deposits dropped by 0.4%. Concurrently, non-resident deposits edged up 0.2% (to MOP72.8 billion) while public sector deposits with the banking sector dropped slightly by 0.1% (to MOP13.4 billion). As a result, total deposits with the banking sector increased 1.0% from the previous month to MOP292.4 billion. The shares of MOP and HKD in total deposits were 22.0% and 45.6% respectively. Loans
Domestic loans to the private sector grew 0.7% month-to-month to MOP97.1 billion. Among which,
MOP23.0 billion was MOP-denominated and MOP67.4 billion was denominated in HKD, representing
23.7% and 69.4% of the total respectively. Meanwhile, external loans rose by 8.4% to MOP80.2 billion;
of which, loans denominated in MOP and HKD accounted for 1.3% and 48.0% respectively of the total, at values of MOP1.0 billion and MOP38.5 billion. Loan-to-deposit ratios
As resident deposits rose at a faster pace than domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-October 2009 decreased by 0.2 percentage points month-to-month to 44.2%. The ratio for both the resident and non-resident sectors, however, increased by 1.8 percentage points to 60.6%

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