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Monetary Statistics for August 2000

According to statistics published today (29 September 2000) by the Hong Kong Monetary Authority, both total deposits and loans of all authorised institutions increased during the month of August. Table 1 provides a summary and comparison with earlier months.

Deposits

Total deposits increased notably by 2.5% in August, with both Hong Kong dollar and foreign currency deposits registering increases. As foreign currency deposits rose faster than Hong Kong dollar deposits, the share of Hong Kong dollar deposits in total deposits declined from 54% in July to 53% in August.

Hong Kong dollar deposits rose slightly by 0.5% in August. The rise was mainly attributable to an increase in savings deposits, while demand and time deposits were virtually unchanged compared with the previous month.

Foreign currency deposits increased for the seventh consecutive month, rising by 4.8% in August. Of the total, US dollar deposits registered a more notable rise of 6.6%, while non-US dollar deposits rose more moderately by 2.1%.

Loans and advances

Total loans and advances increased by 3.1% in August, following a decline of 1.3% in July. Domestic loans rose significantly by 4.8% during the month, more than offsetting the 2.2% decline in loans for use outside Hong Kong. The marked rise in domestic loans was partly due to loans for a large corporate acquisition.

Analysed by currency, Hong Kong dollar-denominated loans increased slightly by 0.6%, while foreign currency loans rose notably by 7.4% in August. As Hong Kong dollar loans rose faster than Hong Kong dollar deposits during the month, the Hong Kong dollar loan-to-deposit ratio edged up from 91.6% in July to 91.8%.

Money supply

Hong Kong dollar M1 declined slightly by 0.3% in August. This was mainly attributable to a decline in currency held by the public. Both Hong Kong dollar M2 and M3 increased by 0.5%. Compared with a year ago, Hong Kong dollar M1 rose by 7.5% in August, while both Hong Kong dollar M2 and M3 increased by 5.9%.

 

For further enquiries, please contact:

Thomas Chan, Senior Manager (Press), at 2878 1480 or

Caitlin Wong, Manager (Press), at 2878 1687

 

Hong Kong Monetary Authority

29 September 2000

Last revision date: 1 August 2011
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