Funding costs fall in Q3

Funding costs in the banking sector decreased during the third quarter, according to statistics from the Monetary Authority of Macao. At the end of September, the composite interest rates for Macau Pataca (MOP) and Hong Kong Dollar (HKD) fell 11 basis points and 17 basis points respectively, dropping to 2.03% and 3.44% from 2.14% and 3.60% at the end of June. These rates reflect the average costs of funds across all interest-bearing liabilities in Macau’s banks.