According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply continued to grow in May. As total loans grew faster than total deposits, the loan-to-deposit ratio rebounded after dropping in the previous month.

Money supply

Currency in circulation slid slightly by 0.1% while demand deposits surged 7.2%. M1 thus increased 6.0% when compared with the previous month. Quasi-monetary liabilities rose by 0.2%. M2 therefore increased by 1.0% to MOP270.4 billion. On an annual basis, M1 and M2 rose 13.8% and 25.1% respectively. The share of Pataca (MOP) in M2 stood at 26.5%, down 0.4 percentage points over a month ago and 1.2 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 54.7%, up 0.6 percentage points month-to-month and 0.5 percentage points year-on-year.

Deposits

Resident deposits grew 1.0% from the previous month to MOP264.2 billion. Of which, MOP deposits dropped 0.7% while HKD deposits and other foreign currency deposits increased at respective rates of 2.1% and 0.1%. Concurrently, non-resident deposits grew 3.7% to MOP92.2 billion and public sector deposits with the banking sector increased slightly by 0.1% to MOP22.0 billion. As a result, total deposits with the banking sector grew 1.6% from a month earlier to MOP378.4 billion. The shares of MOP and HKD in total deposits were 21.8% and 45.9% respectively.

Loans

Domestic loans to the private sector increased 2.5% on a monthly basis to MOP149.6 billion. Among which, MOP39.2 billion was MOP-denominated and MOP97.5 billion was denominated in HKD, representing 26.2% and 65.2% of the total respectively. On the other hand, external loans rebounded 3.1% to MOP150.9 billion; of which, loans denominated in MOP and HKD accounted for 0.3% (MOP0.4 billion) and 33.4% (MOP50.5 billion) respectively.

Loan-to-deposit ratios

As domestic loans to the private sector grew faster than resident deposits, the loan-to-deposit ratio for the resident sector at end-May 2011 rose 0.8 percentage points month-to-month to 52.3%. The ratio for both the resident and non-resident sectors also bounced 1.0 percentage point from the previous month to 79.4%.

For enquiry, please contact:

Research and Statistics Department, Monetary Authority of Macao

(Tel: 83952532; Fax: 28353042)