Stable money supply in May

The broad money supply held steady in May with a stable share denominated in patacas, according to a statement released yesterday by the Monetary Authority of Macao. At the same time, resident deposits remained virtually unchanged from a month earlier while loans to residents increased.

The currency in circulation dropped 1 percent month-to-month whereas demand deposits rose 6.1 percent in May. The shares denominated in MOP, HKD, RMB and USD were 31.2 percent, 53.8 percent, 4.4 percent and 8.5 percent respectively.

Resident deposits remained virtually unchanged from the preceding month at MOP594.7 billion, whereas non-resident deposits grew 2.4 percent to MOP240.6 billion. 

Meanwhile, total deposits in the banking sector grew by 0.8 percent from a month earlier to MOP1.035 billion.  The shares of MOP, HKD, RMB and USD were 20.3, 51.4, 4.2 and 20.8 percent, respectively.

Domestic loans to the private sector grew by 0.6 percent from a month ago to MOP474.3 billion.  Among which, MOP142.3 billion was MOP-denominated, MOP309.5 billion was denominated in HKD, MOP0.4 billion was denominated in RMB and MOP19.3 billion was denominated in USD, representing 30, 65.2, 0.1 and 4.1 percent of the total, respectively.

In the meantime, external loans grew 2.7 percent to MOP480 billion, of which loans denominated in MOP, HKD, RMB and USD accounted for 1.9, 33.7, 7.1 and 51 percent, respectively.

At the end of May, the loan-to-deposit ratio for the resident sector edged up from 59.6 percent at end-April to 59.7 percent. Meanwhile, the ratio for both the resident and non- resident sectors also grew from 91.5 percent to 92.2 percent.