Monetary and Financial Statistics – June 2012

According to statistics released today by the Monetary Authority of Macao, broad money supply increased slightly in June compared with the previous month. As total loans grew significantly faster than deposits, the overall loan-to-deposit ratio of the banking sector continued to rise.
Money supply
Currency in circulation rose 2.3% while demand deposits dropped 1.0%. M1 thus decreased 0.5% from one month earlier. Concurrently, quasi-monetary liabilities grew 0.4%, pushing M2 to increase by 0.3% to MOP321.5 billion. On an annual basis, M1 and M2 rose 5.6% and 18.6% respectively. The share of Pataca (MOP) in M2 stood at 26.2%, up 0.4 percentage points over a month ago but down 0.5 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 54.0%, down 0.3 percentage points month-to-month but up 0.4 percentage points year-on-year.
Resident deposits grew 0.3% from the preceding month to MOP314.4 billion. Of which, MOP deposits and other foreign currency deposits increased at respective rates of 1.7% and 0.2% while HKD deposits decreased 0.3%. In the meantime, non-resident deposits grew 1.8% to MOP125.7 billion while public sector deposits with the banking sector dropped 0.3% to MOP39.3 billion. As a result, total deposits with the banking sector rose 0.6% from a month earlier to MOP479.5 billion. The shares of MOP and HKD in total deposits were 21.4% and 45.2% respectively.
Domestic loans to the private sector increased 2.5% from a month ago to MOP179.8 billion. Among which, MOP48.5 billion was MOP-denominated and MOP113.5 billion was denominated in HKD, representing 27.0% and 63.1% of the total respectively. Compared with a quarter ago, loans to "manufacturing industries", loans to "wholesale and retail trade" and "car loans" increased at respective rates of 21.5%, 10.2% and 12.1% whereas those to "transport, warehouse and communications" and "non-monetary financial institutions" dropped 77.0% and 11.5% respectively. External loans rose 6.8% to MOP201.4 billion; of which, loans denominated in MOP and HKD accounted for 0.6% (MOP1.2 billion) and 24.6% (MOP49.6 billion) respectively.
Loan-to-deposit ratios
As domestic loans to the private sector grew faster than resident deposits, the loan-to-deposit ratio for the resident sector at end-June rose 1.2 percentage points month-to-month to 50.8%. The ratio for both the resident and non-resident sectors was 79.5%, up 3.1 percentage points from end-May.

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