According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in September while the share of patacas remained stable.  On the other hand, resident deposits dropped from a month earlier whereas loans to residents posted an increase.

Money supply

Currency in circulation grew 2.5% month-to-month whereas demand deposits dropped 3.8%.  M1 thus decreased 2.5% from one month earlier.  Meanwhile, quasi-monetary liabilities fell 1.0%.  The sum of these two items, i.e. M2, decreased 1.2% to MOP567.7 billion.  On an annual basis, M1 and M2 grew 1.9% and 12.2% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.7%, 53.2%, 4.2% and 8.9% respectively.

Deposits

Resident deposits dropped 1.3% from the preceding month to MOP553.0 billion whereas non-resident deposits also fell 1.3% to MOP257.8 billion.  On the other hand, public sector deposits with the banking sector increased 0.3% to MOP188.3 billion.  As a result, total deposits in the banking sector dropped 1.0% from a month earlier to MOP999.1 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 20.6%, 51.1%, 4.6% and 21.6% respectively.

Loans

Domestic loans to the private sector increased 1.1% from a month ago to MOP441.0 billion.  Among which, MOP131.7 billion was MOP-denominated, MOP285.2 billion was denominated in HKD, MOP0.6 billion was denominated in RMB and MOP21.0 billion was denominated in USD, representing 29.9%, 64.7%, 0.1% and 4.8% of the total respectively.  Analysed by economic sector, “exhibition and conference”, “gaming” and “manufacturing industries” increased at respective rates of 8.7%, 6.8% and 6.6% compared with a quarter ago, whereas “education” and “transport, warehouse and communications” dropped 5.2% and 1.3% respectively.

External loans grew 3.6% to MOP439.5 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 2.0% (MOP8.8 billion), 31.6% (MOP138.9 billion), 10.5% (MOP46.0 billion) and 48.2% (MOP212.0 billion) respectively.

Operating ratios

At end-September, the loan-to-deposit ratio for the resident sector rose from 58.3% at end-August to 59.5%.  The ratio for both the resident and non-resident sectors also grew from 85.2% to 88.1%.  Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 49.7% and 56.4% respectively.  Concurrently, the non-performing loan ratio remained virtually stable at 0.3%.