According to statistics released today by the Monetary Authority of Macao, broad money supply rose marginally in November. As total loans increased faster than total deposits, the overall loan-to-deposit ratio of the banking sector grew from a month earlier.
Money supply
Currency in circulation grew 1.5% whereas demand deposits dropped 9.4%. M1 thus decreased 7.8% from one month earlier. Concurrently, quasi-monetary liabilities increased 1.3%. The sum of these two items, i.e. M2, grew marginally by 0.1% to MOP445.7 billion. On an annual basis, M1 and M2 rose 30.5% and 20.4% respectively. The share of Pataca (MOP) in M2 stood at 23.8%, up 0.1 percentage point from a month ago but down 0.6 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 52.8%, down 0.4 percentage points month-to-month and 2.3 percentage points year-on-year.
Deposits
Resident deposits kept virtually unchanged from the preceding month at MOP436.9 billion. Of which, MOP deposits and other foreign currency deposits increased at respective rates of 0.3% and 1.5% while HKD deposits dropped 0.7%. Non-resident deposits grew 2.7% to MOP173.3 billion. On the other hand, public sector deposits with the banking sector increased 2.9% to MOP67.9 billion. As a result, total deposits with the banking sector rose 1.0% from a month earlier to MOP678.1 billion.
Loans
Domestic loans to the private sector increased 2.1% from a month ago to MOP254.8 billion. Among which, MOP79.4 billion was MOP-denominated and MOP152.1 billion was denominated in HKD, representing 31.2% and 59.7% of the total respectively. On the other hand, external loans increased 5.3% to MOP278.8 billion; of which, loans denominated in MOP and HKD accounted for 1.6% (MOP4.4 billion) and 22.4% (MOP62.4 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-November grew 0.8 percentage points from the previous month to 50.5%. The ratio for both the resident and non-resident sectors also increased 2.1 percentage points to 78.7%.
For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao
(Tel: 83952532; Fax: 28353042)
