According to statistics released today by the Monetary Authority of Macao, broad money supply rebounded in September with a stable share of patacas. Meanwhile, resident deposits increased from a month ago whereas loans to residents retreated.

Money supply

Currency in circulation and demand deposits decreased 0.2% and 1.4% respectively. M1 thus fell 1.1% from one month earlier.  On the other hand, quasi-monetary liabilities rose 0.4%.  The sum of these two items, i.e. M2, rebounded 0.2% to MOP688.5 billion.  On an annual basis, M1 grew 0.3% whereas M2 dropped 0.3%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 35.0%, 50.2%, 5.6% and 7.5% respectively.

Deposits

Resident deposits increased 0.2% from the preceding month to MOP669.0 billion whereas non-resident deposits fell 3.3% to MOP384.0 billion.  Meanwhile, public sector deposits with the banking sector dropped 0.2% to MOP264.0 billion.  As a result, total deposits in the banking sector decreased 0.9% from a month earlier to MOP1,317.0 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 18.8%, 52.2%, 5.2% and 21.9% respectively.

Loans

Domestic loans to the private sector went down by 0.7% from a month ago to MOP560.6 billion. Analysed by economic sector, “wholesale and retail trade” and “construction and public works” increased at respective rates of 4.8% and 4.5% compared with a quarter ago, whereas “electricity, gas and water” and “manufacturing industries” dropped 6.0% and 3.8% respectively. On the other hand, external loans rose 0.2% to MOP750.2 billion. As a result, total loans to the private sector edged down by 0.1% from a month earlier to MOP1,310.8 billion.  The shares of MOP, HKD, RMB and USD in total loans were 15.9%, 38.6%, 13.0% and 28.9% respectively.

Operating ratios

At end-September, the loan-to-deposit ratio for the resident sector fell from 60.6% at end-August to 60.1%.  On the other hand, the ratio for both the resident and non-resident sectors increased from 98.8% to 99.5%.  The one-month and three-month current assets to liabilities ratios stood at 70.3% and 60.5% respectively.  Concurrently, the non-performing loan ratio increased from 0.36% at end-August to 0.37%.