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Monetary Statistics for September 2001

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

Deposits

Total deposits declined moderately by 1.1% in September. The fall was attributable to a fall in foreign currency deposits, while Hong Kong dollar deposits were virtually unchanged during the month.

Within Hong Kong dollar deposits, both demand and savings deposits increased, by 1.5% and 3.3% respectively, while time deposits decreased moderately by 1.6% in September. Foreign currency deposits contracted by 2.4%, with both US dollar and non-US dollar foreign currency deposits declining.

Loans and advances

Total loans and advances contracted slightly by 1.0% in September. Of the total, loans for use outside Hong Kong shrank notably by 6.0%, while domestic loans were little changed.

Analysed by currency, Hong Kong dollar denominated loans increased marginally, while foreign currency loans declined notably in September. As Hong Kong dollar loans increased while Hong Kong dollar deposits were almost unchanged during the month, the Hong Kong dollar loan-to-deposit ratio edged up slightly to 89.2%.

Money supply

On a seasonally adjusted basis, Hong Kong dollar M1 rose moderately by 1.7% in September, attributable to increases in both currency held by the public and demand deposits. Both unadjusted Hong Kong dollar M2 and M3 increased by 0.3% in September. Compared with a year ago, unadjusted Hong Kong dollar M1 increased by 8.7%, while Hong Kong dollar M2 and M3 rose by 2.0% and 2.2% respectively.

Quarterly analysis of loans for use in Hong Kong by major economic sectors

Credit expansion analysed by economic use was mixed in the September quarter.

Loans for transport and transport equipment increased moderately by 1.3%. Alongside subdued property market activity, loans for residential mortgages grew by only 0.9%, while loans for building, construction, property development and investment declined moderately by 2.2% during the quarter. Loans for trade financing contracted by 4.2% amid a reduction in total trade, while loans for wholesale and retail sales shrank notably by 6.1%.

 

Release Schedule of Monetary Statistics in Hong Kong

The monthly release schedule of monetary statistics in Year 2002 is as follows.

Release Date

 

Reference Month

28 February 2002

January 2002

28 March 2002

February 2002

30 April 2002

March 2002

31 May 2002

April 2002

28 June 2002

May 2002

31 July 2002

June 2002

30 August 2002

July 2002

30 September 2002

August 2002

31 October 2002

September 2002

29 November 2002

October 2002

30 December 2002

November 2002

30 January 2003

December 2002

 

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

 

Hong Kong Monetary Authority
31 October 2001

Last revision date: 1 August 2011
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