Monetary Statistics for September 2009

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions rose by 2.1% in September 2009. With demand, savings and time deposits increasing, Hong Kong-dollar deposits grew by 3.8% during the month. Foreign-currency deposits also expanded slightly by 0.1% in September. Accounting for around 2.2% of foreign-currency deposits, renminbi deposits in Hong Kong climbed by 2.7% to RMB58.2 billion at the end of September.

Total loans and advances increased by 3.2% in September. Loans for use in Hong Kong rose by 3.3% and loans for use outside Hong Kong expanded by 2.9%. As Hong Kong-dollar loans rose at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 70.2% at the end of September from 70.8% at the end of August.

In the third quarter of 2009, loans for use in Hong Kong grew by 1.6%. Analysed by economic use, growth in mortgage lending accelerated alongside a buoyant property market. Trade financing loans also increased for the second consecutive quarter.

Seasonally adjusted Hong Kong-dollar M1 rose by 10.5% in September and increased by 55.3% from a year earlier. Unadjusted Hong Kong-dollar M3 climbed by 3.7% during the month and expanded by 14.1% year on year.

Release schedule of Monetary Statistics in Hong Kong

The monthly release schedule of monetary statistics in Year 2010 is as follows.

Annex

For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Hing-fung Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
30 October 2009