According to statistics released today by the Monetary Authority of Macao, broad money supply dropped in June. As total loans increased whereas total deposits decreased, the overall loan-to-deposit ratio of the banking sector rose from a month earlier.

Money supply

Currency in circulation grew 1.2% whereas demand deposits dropped 14.5%. M1 thus decreased 12.4% from one month earlier. Concurrently, quasi-monetary liabilities slid 1.1%. The sum of these two items, i.e. M2, dropped 2.7% to MOP396.4 billion. On an annual basis, M1 and M2 rose 34.2% and 23.3% respectively. The share of Pataca (MOP) in M2 stood at 24.6%, up 0.6 percentage points from a month ago but down 1.6 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 53.6%, down 1.5 percentage points month-to-month or 0.4 percentage points year-on-year.

Deposits

Resident deposits dropped 2.8% from the preceding month to MOP388.1 billion. Of which, MOP deposits and HKD deposits decreased at respective rates of 0.3% and 5.4% whereas other foreign currency deposits grew 1.3%. Non-resident deposits rose 6.7% to MOP160.6 billion. Public sector deposits with the banking sector also increased 1.4% to MOP56.7 billion. As a result, total deposits with the banking sector dropped marginally by 0.1% from a month earlier to MOP605.4 billion. The shares of MOP and HKD in total deposits were 19.8% and 44.9% respectively.

Loans

Domestic loans to the private sector increased 2.6% from a month ago to MOP226.4 billion. Among which, MOP72.9 billion was MOP-denominated and MOP133.6 billion was denominated in HKD, representing 32.2% and 59.0% of the total respectively. Analysed by economic sector, loans to “non-monetary financial institutions”, “gaming” and “credit card balances” increased at respective rates of 86.0%, 9.7% and 14.1% compared with a quarter ago, whereas loans to “information technology” and “restaurants, hotels and similar” dropped 1.9% and 1.5% respectively.

External loans increased 2.4% to MOP266.3 billion; of which, loans denominated in MOP and HKD accounted for 0.9% (MOP2.4 billion) and 20.6% (MOP55.0 billion) respectively.

Loan-to-deposit ratios

The loan-to-deposit ratio for the resident sector at end-June rose 2.4 percentage points from the previous month to 50.9%. The ratio for both the resident and non-resident sectors also increased 2.0 percentage points to 81.4%.

For enquiry, please contact:

Research and Statistics Department, Monetary Authority of Macao

(Tel: 83952532; Fax: 28353042)