According to statistics released today by the Monetary Authority of Macao, broad money supply continued to fall in April. Meanwhile, both resident deposits and loans decreased from a month earlier.

Money supply

Currency in circulation rose 1.4% whereas demand deposits dropped 7.1%. M1 thus decreased 4.8% from one month earlier. Meanwhile, quasi-monetary liabilities fell 1.4%.  The sum of these two items, i.e. M2, decreased 1.8% to MOP673.9 billion.  On an annual basis, M1 and M2 fell 4.2% and 3.5% respectively.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 37.1%, 49.0%, 5.7% and 6.5% respectively.

Deposits

Resident deposits dropped 1.9% from the preceding month to MOP653.1 billion while non-resident deposits also decreased 3.9% to MOP365.8 billion.  Meanwhile, public sector deposits with the banking sector fell 0.9% to MOP260.8 billion.  As a result, total deposits in the banking sector dropped 2.3% from a month earlier to MOP1,279.8 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.8%, 51.0%, 5.9% and 21.8% respectively.

Loans

Domestic loans to the private sector decreased by 0.7% from a month ago to MOP554.2 billion while external loans also dropped 3.1% to MOP769.8 billion. As a result, total loans to the private sector retreated by 2.1% from a month earlier to MOP1,324.0 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.2%, 37.9%, 14.1% and 28.7% respectively.

Operating ratios

At end-April, the loan-to-deposit ratio for the resident sector rose from 60.1% at end-March to 60.6%. Meanwhile, the ratio for both the resident and non-resident sectors increased from 103.3% to 103.5%.  The one-month and three-month current assets to liabilities ratios stood at 72.2% and 67.5% respectively.  Concurrently, the non-performing loan ratio increased from 0.74% at end-March to 0.77%.