Monetary Statistics for October 2015

According to statistics published today (Monday) by the Hong Kong Monetary Authority, total deposits with authorized institutions were virtually unchanged in October 2015. As the expansion in demand and savings deposits exceeded the contraction in time deposits, Hong Kong-dollar deposits picked up by 0.6%. By contrast, overall foreign-currency deposits decreased by 0.6%. Within that, renminbi deposits in Hong Kong declined by 4.6% to RMB854.3 billion at the end of October. The total remittance of renminbi for cross-border trade settlement amounted to RMB410.8 billion in October, compared with RMB738.6 billion in September. 

Total loans and advances decreased by 1.0% in October. Among the total, loans for use in Hong Kong (including trade finance) declined by 0.7% from a month ago, and loans for use outside Hong Kong contracted by 1.7%. As Hong Kong-dollar loans decreased while Hong Kong-dollar deposits increased, the Hong Kong-dollar loan-to-deposit ratio declined to 77.4% at the end of October from 78.4% at the end of September.

Seasonally adjusted Hong Kong-dollar M1 went down by 0.6% in October but rose by 10.4% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.6% during the month and grew by 10.2% from a year earlier. 

Annex

Hong Kong Monetary Authority
30 November 2015