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

Money supply

Currency in circulation grew 1.6% month-to-month whereas demand deposits dropped 1.8%.  M1 thus decreased 1.2% from one month earlier.  On the other hand, quasi-monetary liabilities rose 2.6%.  The sum of these two items, i.e. M2, increased 2.1% to MOP568.3 billion.  On an annual basis, M1 and M2 grew 11.7% and 15.7% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 31.6%, 53.7%, 3.9% and 8.9% respectively.

Deposits

Resident deposits rose 2.1% from the preceding month to MOP554.0 billion while non-resident deposits grew even faster by 5.6% to MOP271.8 billion.  On the other hand, public sector deposits with the banking sector decreased 1.4% to MOP187.3 billion.  As a result, total deposits with the banking sector rose 2.4% from a month earlier to MOP1,013.2 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 20.4%, 50.9%, 3.9% and 22.0% respectively.

Loans

Domestic loans to the private sector increased 0.4% from a month ago to MOP434.8 billion.  Among which, MOP130.4 billion was MOP-denominated, MOP280.8 billion was denominated in HKD, MOP1.4 billion was denominated in RMB and MOP19.7 billion was denominated in USD, representing 30.0%, 64.6%, 0.3% and 4.5% of the total respectively.  External loans dropped 0.9% to MOP424.2 billion; of which, loans denominated in MOP, HKD, RMB and USD accounted for 1.8% (MOP7.7 billion), 29.5% (MOP125.2 billion), 10.5% (MOP44.7 billion) and 50.4% (MOP213.6 billion)  respectively.

Operating ratios

At end-July, the loan-to-deposit ratio for the resident sector dropped from 59.1% at end-June to 58.6%.  In the meantime, the ratio for both the resident and non-resident sectors also fell from 87.0% to 84.8%.  Both the one-month and three-month current assets to liabilities ratios stayed at relatively high levels of 55.3% and 57.0% respectively.  Concurrently, the non-performing loan ratio stayed at a low level of 0.3%.