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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (December 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions rose by 0.5% in November 2009. Hong Kong-dollar deposits were little changed during the month, as the increase in savings deposits roughly offset the decline in demand and time deposits. Foreign-currency deposits expanded by 1.0% in November. Accounting for around 2.2% of foreign-currency deposits, renminbi deposits in Hong Kong grew by 5.5% to RMB60.4 billion at the end of November.
Total loans and advances expanded by 1.5% in November. Loans for use in Hong Kong climbed by 1.2% and loans for use outside Hong Kong rose by 2.7%. As Hong Kong-dollar loans grew while deposits were stable, the Hong Kong-dollar loan-to-deposit ratio rebounded slightly to 69.9% at the end of November from 69.1% at the end of October.
Seasonally adjusted Hong Kong-dollar M1 rose by 0.5% in November and increased by 48.9% from a year earlier. Unadjusted Hong Kong-dollar M3 was virtually unchanged during the month but expanded by 14.1% year on year.
For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Hing-fung Wong, Manager (Communications), at 2878 1802
Ends/Thursday, December 31, 2009
Issued at HKT 16:34
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