Monetary and financial statistics – January 2016

According to statistics released today by the Monetary Authority of Macao, money supply continued to grow in January. As total deposits increased whereas total loans decreased, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier. Money supply Currency in circulation and demand deposits grew 8.8% and 3.5% respectively. M1 thus increased 4.5% from one month earlier. Concurrently, quasi-monetary liabilities dropped 0.4%. The sum of these two items, i.e. M2, increased 0.2% to MOP473.8 billion. On an annual basis, M1 grew 3.6% whereas M2 dropped 4.0%. The share of Pataca (MOP) in M2 stood at 30.7%, up 0.8 percentage points from a month ago or 3.9 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 51.2%, down 0.3 percentage points month-to-month but up 0.6 percentage points year-on-year. The share of Chinese Yuan (CNY) was 6.4%, down 0.4 percentage points month-to-month or 6.3 percentage points year-on-year. The share of United States Dollar (USD) was 9.5%, down 0.2 percentage points month-to-month but up 1.6 percentage points year-on-year. Deposits Resident deposits kept virtually stable from the preceding month at MOP460.7 billion. Of which, MOP and other foreign currency deposits increased at respective rates of 2.2% and 2.8%. HKD, CNY and USD deposits decreased 0.3%, 5.1% and 1.6% respectively. Non-resident deposits rose 6.7% to MOP286.1 billion. Public sector deposits with the banking sector decreased 0.9% to MOP130.0 billion. As a result, total deposits with the banking sector grew 2.0% from a month earlier to MOP876.8 billion. The shares of MOP, HKD, CNY and USD in total deposits were 20.8%, 43.4%, 8.7% and 24.0% respectively. Loans Domestic loans to the private sector kept virtually stable from a month ago at MOP389.3 billion. Among which, MOP108.6 billion was MOP-denominated, MOP258.7 billion was denominated in HKD, MOP2.1 billion was denominated in CNY and MOP16.2 billion was denominated in USD, representing 27.9%, 66.5%, 0.5% and 4.2% of the total respectively. On the other hand, external loans dropped 1.9% to MOP364.5 billion; of which, loans denominated in MOP, HKD, CNY and USD accounted for 1.6% (MOP5.8 billion), 26.0% (MOP94.7 billion), 18.8% (MOP68.4 billion) and 48.0% (MOP175.1 billion) respectively. Operating ratios At end-January, the loan-to-deposit ratio for the resident sector grew 0.2 percentage points from the previous month to 65.9%. The ratio for both the resident and non-resident sectors dropped 2.5 percentage points to 86.0%. The one-month and three-month current assets to liabilities ratios stayed at relatively high levels, marked at 66.3% and 59.8% respectively. The non-performing loan ratio, an indicator for bank asset quality, was 0.1%, virtually unchanged from one month earlier and one year ago.

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