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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.7% in September 2014. As the decrease in time deposits exceeded the expansion in demand and savings deposits, Hong Kong-dollar deposits went down by 0.3% during the month. Overall foreign-currency deposits rose by 1.5% in September, while renminbi deposits in Hong Kong increased by 0.8% to RMB944.5 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB605.6 billion in September, compared with RMB496.2 billion in August.
Total loans and advances grew by 0.9% in September, within which loans for use in Hong Kong (including trade finance) went up by 0.7% and loans for use outside Hong Kong increased by 1.6%. As Hong Kong-dollar loans expanded while deposits declined, the Hong Kong-dollar loan-to-deposit ratio rose to 81.8% at the end of September from 80.9% at the end of August.
Loans for use in Hong Kong (including trade finance) grew by 1.4% in the third quarter of 2014 after expanding by 4.4% in the second quarter. Analysed by economic use, the quarterly expansion in loans was led by loans to wholesale and retail trade, loans to manufacturing, and residential mortgage loans.
Seasonally adjusted Hong Kong-dollar M1 decreased by 0.5% in September and expanded by 11.6% year on year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.3% in September but climbed by 9.7% from a year earlier.
Release schedule of monetary statistics in Hong Kong
The monthly release schedule of monetary statistics in year 2015 is as follows.
Reference month Release date
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January 2015 February 27, 2015
February 2015 March 31, 2015
March 2015 April 30, 2015
April 2015 May 29, 2015
May 2015 June 30, 2015
June 2015 July 31, 2015
July 2015 August 31, 2015
August 2015 September 30, 2015
September 2015 October 30, 2015
October 2015 November 30, 2015
November 2015 December 31, 2015
December 2015 January 29, 2016
Ends/Friday, October 31, 2014
Issued at HKT 18:12
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