Monetary and Financial Statistics – February 2011

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, money supply M2 witnessed a decline in February. As loans grew at a faster pace than deposits, the overall loan-to-deposit ratio continued to rise. Money supply Currency in circulation and demand deposits decreased 10.7% and 4.1% respectively. M1 thus dropped 5.2% when compared with the previous month. Meanwhile, quasi-monetary liabilities fell 2.0%. M2 therefore decreased by 2.5% to MOP251.0 billion. On an annual basis, M1 and M2 rose 16.3% and 19.4% respectively. The share of Pataca (MOP) in M2 stood at 28.1%, up 0.5 percentage points over a month ago but down 1.1 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 52.7%, up 0.4 percentage points month-to-month or slightly down 0.2 percentage points year-on-year. Deposits Resident deposits dropped after growing for two straight months. Their value decreased 2.4% from the previous month to MOP244.6 billion. Of which, MOP deposits increased 0.5%, while HKD deposits and other foreign currency deposits decreased at respective rates of 1.8% and 7.7%. Concurrently, non-resident deposits grew 9.6% to MOP84.9 billion and public sector deposits with the banking sector increased 4.2% to MOP23.0 billion. As a result, total deposits with the banking sector grew 0.6% from a month earlier to MOP352.4 billion. The shares of MOP and HKD in total deposits were 23.6% and 44.4% respectively. Loans Domestic loans to the private sector increased 1.8% on a monthly basis to MOP137.4 billion. Among which, MOP38.3 billion was MOP-denominated and MOP88.9 billion was denominated in HKD, representing 27.9% and 64.7% of the total respectively. Meanwhile, external loans increased 4.8% to MOP135.5 billion, of which loans denominated in MOP and HKD respectively accounted for 0.3% (MOP0.4 billion) and 38.9% (MOP52.7 billion). Loan-to-deposit ratios As domestic loans to the private sector increased while resident deposits dropped, the loan-to-deposit ratio for the resident sector at end-February 2011 rose 1.9 percentage points month-to-month to 51.4%. The ratio for both the resident and non-resident sectors was 77.4%, up by the same pace of 1.9 percentage points from the previous month. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)

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