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Monetary Statistics for February 2012
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The following is issued on behalf of the Hong Kong Monetary Authority:

     According to statistics published today (March 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions rose by 0.8% in February. As the expansion in demand and savings deposits exceeded the contraction in time deposits, Hong Kong-dollar deposits grew by 2.5% during the month. Overall foreign-currency deposits edged down by 0.9% in February, and renminbi deposits in Hong Kong declined by 1.7% to RMB566.2 billion at the end of the month. The total remittance of the renminbi for cross-border trade settlement amounted to RMB187.5 billion in February, compared with RMB156.4 billion in the previous month.

     Total loans and advances grew by 0.7% in February. Loans for use in Hong Kong climbed by 0.4% and loans for use outside Hong Kong rose by 1.5%. As Hong Kong-dollar loans expanded at a slower pace than deposits, the Hong Kong-dollar loan-to-deposit ratio fell to 81.4% at the end of February from 83.4% a month ago.

     Seasonally adjusted Hong Kong-dollar M1 increased by 3.0% in February and rose by 4.5% year on year. Unadjusted Hong Kong-dollar M3 expanded by 2.3% during the month and grew by 9.8% from a year earlier.

Ends/Friday, March 30, 2012
Issued at HKT 16:31

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