According to statistics released today by the Monetary Authority of Macao, broad money supply held steady in February with a stable share of patacas. On the other hand, both resident deposits and loans decreased from a month earlier.

Money supply

Currency in circulation rose 2.5% whereas demand deposits dropped 6.1%. M1 thus decreased 4.1% from one month earlier.  On the other hand, quasi-monetary liabilities increased 0.5%.  The sum of these two items, i.e. M2, remained virtually stable at MOP695.8 billion.  On an annual basis, M1 dropped 4.3% whereas M2 grew 1.2%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 34.4%, 49.5%, 5.1% and 9.2% respectively.

Deposits

Resident deposits edged down by 0.1% from the preceding month to MOP676.1 billion while non-resident deposits also dropped 4.3% to MOP344.7 billion.  On the other hand, public sector deposits with the banking sector rose 0.7% to MOP265.1 billion.  As a result, total deposits in the banking sector fell 1.1% from a month earlier to MOP1,286.0 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.0%, 49.5%, 5.6% and 22.1% respectively.

Loans

Domestic loans to the private sector dropped 2.1% from a month ago to MOP535.9 billion while external loans also fell 6.0% to MOP672.2 billion. As a result, total loans to the private sector went down by 4.3% from a month earlier to MOP1,208.1 billion.  The shares of MOP, HKD, RMB and USD in total loans were 16.7%, 40.3%, 11.1% and 28.9% respectively.

Operating ratios

At end-February, the loan-to-deposit ratio for the resident sector fell from 58.2% at end-January to 56.9%.  Meanwhile, the ratio for both the resident and non-resident sectors decreased from 97.1% to 93.9%.  The one-month and three-month current assets to liabilities ratios stood at 62.7% and 59.9% respectively.  Concurrently, the non-performing loan ratio stabilised at 0.36%.