According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in November with a stable share of patacas.  Meanwhile, both resident deposits and loans increased from a month earlier.

Money supply

Currency in circulation rose 1.1% month-to-month whereas demand deposits dropped 0.4%.  M1 thus edged down 0.1% from one month earlier.  Meanwhile, quasi-monetary liabilities rose 1.5%.  The sum of these two items, i.e. M2, increased 1.3% to MOP588.5 billion.  On an annual basis, M1 and M2 grew 5.9% and 13.3% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 30.5%, 53.5%, 4.1% and 10.0% respectively.

Deposits

Resident deposits grew 1.3% from the preceding month to MOP573.8 billion while non-resident deposits fell 3.2% to MOP251.1 billion.  On the other hand, public sector deposits with the banking sector increased 0.3% to MOP186.3 billion.  As a result, total deposits in the banking sector stayed virtually stable from a month earlier at MOP1,011.2 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.9%, 51.5%, 4.1% and 21.1% respectively.

Loans

Domestic loans to the private sector increased 0.6% from a month ago to MOP451.3 billion.  Among which, MOP133.8 billion was MOP-denominated, MOP293.5 billion was denominated in HKD, MOP0.2 billion was denominated in RMB and MOP20.5 billion was denominated in USD, representing 29.6%, 65.0%, 0.1% and 4.5% of the total respectively.  On the other hand, external loans grew 0.2% to MOP438.8 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 2.0% (MOP8.9 billion), 32.2% (MOP141.4 billion), 10.0% (MOP44.0 billion) and 48.0% (MOP210.8 billion) respectively.

Operating ratios

At end-November, the loan-to-deposit ratio for the resident sector edged down from 59.6% at end-October to 59.4%.  However, the ratio for both the resident and non-resident sectors rose from 87.6% to 88.0%.  Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 54.6% and 51.8% respectively.  Concurrently, the non-performing loan ratio remained virtually stable at 0.3%.