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Monetary Statistics for August 2014
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The following is issued on behalf of the Hong Kong Monetary Authority:

     According to statistics published today (September 30) by the Hong Kong Monetary Authority, total deposits with authorised institutions edged up by 0.1% in August 2014. As the contraction in demand and time deposits exceeded the expansion in savings deposits, Hong Kong-dollar deposits went down by 0.5% during the month. Overall foreign-currency deposits picked up by 0.7% in August, while renminbi deposits in Hong Kong were virtually unchanged at RMB936.8 billion at the end of August. The total remittance of renminbi for cross-border trade settlement amounted to RMB496.2 billion in August, compared with RMB507.6 billion in July.

     Total loans and advances stayed virtually unchanged in August. Loans for use in Hong Kong (including trade finance) decreased by 0.4%, while loans for use outside Hong Kong grew by 1.0%. As both Hong Kong-dollar loans and deposits decreased roughly at the same rate, the Hong Kong-dollar loan-to-deposit ratio held steady at 80.9% at the end of August.

     Seasonally adjusted Hong Kong-dollar M1 grew by 1.5% in August and expanded by 13.3% year on year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.4% during the month but climbed by 13.9% from a year earlier.  

Ends/Tuesday, September 30, 2014
Issued at HKT 16:30

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