Pataca remains minor in int’l banking transactions

At the end of the first half of this year, the pataca contributed to 0.5% and 0.7% in Macau’s total international assets and total international liabilities, the Monetary Authority of Macao (AMCM) announced yesterday.
The Hong Kong dollar, the US dollar, the renminbi and other foreign currencies accounted for 31.2%, 42.5%, 21.0% and 4.7% of total international assets respectively while their respective shares in total international liabilities were 39.4%, 39.8%, 16.9% and 3.3%.
At end-June 2021, the overall share of international assets in total banking assets increased to 86.2% from 85.5% at end-March 2021, while the share of international liabilities in total banking liabilities rose to 83.9% from 82.6%.
At end-June 2021, total international assets increased by 8.7% from the previous quarter and by 16.0% from the prior year to MOP2,176.5 billion (USD272.2 billion). As a major component of international assets, external non-bank loans advanced by 19.5% to MOP796.4 billion.
A 9.5% increase in total international liabilities from the previous quarter was recorded, and a 16.9% year-on-year increase was recorded, to MOP2,117.3 billion (USD264.8 billion). Foreign currency deposits held by residents and the MSAR government in local banks continued to form a major component of international liabilities. This type of deposits dropped by 3.4% year-on-year to MOP699.2 billion at end-June 2021.
The majority of external assets and liabilities of the local banking sector were related to Asia and Europe, the AMCM added. AL