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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (November 30) by the Hong Kong Monetary Authority, total deposits with authorised institutions rose by 0.9% in October 2009. Hong Kong-dollar deposits grew by 0.4% during the month, as the increase in demand and savings deposits exceeded the decline in time deposits. Foreign-currency deposits also expanded by 1.3% in October. Accounting for around 2.1% of foreign-currency deposits, renminbi deposits in Hong Kong contracted by 1.6% to RMB57.3 billion at the end of October.
Total loans and advances shrank by 1.0% in October. Loans for use in Hong Kong contracted by 1.5% but loans for use outside Hong Kong expanded by 1.1%. As Hong Kong-dollar loans declined while deposits grew, the Hong Kong-dollar loan-to-deposit ratio declined from 70.2% at the end of September to 69.1% at the end of October.
Seasonally adjusted Hong Kong-dollar M1 contracted by 4.1% in October but increased by 49.9% from a year earlier. Unadjusted Hong Kong-dollar M3 climbed by 0.5% during the month and expanded by 14.2% year on year.
For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Natalie Wu, Officer (Communications), at 2878 8246
Ends/Monday, November 30, 2009
Issued at HKT 16:56
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