Monetary Statistics for May 2012

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 1.9% in May. As the demand, savings and time deposits contracted, Hong Kong-dollar deposits decreased by 1.2% during the month. Overall foreign-currency deposits declined by 2.5% in May, while renminbi deposits in Hong Kong edged up by 0.3% to RMB553.9 billion. The total remittance of the renminbi for cross-border trade settlement amounted to RMB223.4 billion in May, compared with RMB177.1 billion in the previous month.

Total loans and advances increased by 0.3% in May. Loans for use in Hong Kong were little changed while loans for use outside Hong Kong grew by 1.1%. As Hong Kong-dollar loans were little changed while deposits decreased, the Hong Kong-dollar loan-to-deposit ratio rose to 83.5% at the end of May from 82.4% a month ago.

Seasonally adjusted Hong Kong-dollar M1 fell by 1.5% in May but increased by 3.8% year on year. Unadjusted Hong Kong-dollar M3 decreased by 1.2% during the month but increased by 4.5% from a year earlier.

Annex

Hong Kong Monetary Authority
29 June 2012