According to statistics released today by the Monetary Authority of Macao, broad money supply continued to fall in December with a stable share of patacas. Meanwhile, resident deposits decreased from a month ago whereas loans to residents posted an increase.

Money supply

Currency in circulation and demand deposits increased 0.6% and 2.9% respectively. M1 thus rose 2.3% from one month earlier. On the other hand, quasi-monetary liabilities dropped by 0.9%.  The sum of these two items, i.e. M2, decreased 0.5% to MOP687.5 billion.  On an annual basis, M1 and M2 fell 6.5% and 0.7% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 35.4%, 50.1%, 6.0% and 6.9% respectively.

Deposits

Resident deposits dropped 0.5% from the preceding month to MOP667.7 billion while non-resident deposits also fell 6.9% to MOP354.3 billion.  On the other hand, public sector deposits with the banking sector rose 0.5% to MOP264.5 billion.  As a result, total deposits in the banking sector decreased 2.2% from a month earlier to MOP1,286.5 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.3%, 51.4%, 6.2% and 21.3% respectively.

Loans

Domestic loans to the private sector increased by 0.1% from a month ago to MOP563.5 billion. Analysed by economic sector, “transport, warehouse and communications” and “restaurants, hotels and similar” increased at respective rates of 35.8% and 8.3% compared with a quarter ago, whereas “wholesale and retail trade” and  “manufacturing industries”  dropped 3.6% and 0.6%  respectively. On the other hand, external loans fell 2.5% to MOP739.9 billion. As a result, total loans to the private sector went down by 1.4% from a month earlier to MOP1,303.4 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.1%, 38.5%, 14.9% and 27.2% respectively.

Operating ratios

At end-December, the loan-to-deposit ratio for the resident sector rose from 60.3% at end-November to 60.4%. Meanwhile, the ratio for both the resident and non-resident sectors increased from 100.5% to 101.3%.  The one-month and three-month current assets to liabilities ratios stood at 70.2% and 61.9% respectively.  Concurrently, the non-performing loan ratio was 0.73%.