Monetary Statistics for October 2016

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.6% in October. With increases in demand, savings and time deposits, Hong Kong-dollar deposits rose by 0.9% during the month. Overall foreign-currency deposits grew by 0.4% in October. Renminbi deposits in Hong Kong decreased by 0.4% to RMB662.5 billion at the end of October. The total remittance of renminbi for cross-border trade settlement amounted to RMB309.4 billion in October, compared with RMB382.9 billion in September.  

Total loans and advances edged down by 0.1% in October. Among the total, loans for use in Hong Kong (including trade finance) grew by 0.5% from a month ago, and loans for use outside Hong Kong declined by 1.5%. As Hong Kong-dollar deposits increased at a faster pace than Hong Kong-dollar loans, the Hong Kong-dollar loan-to-deposit ratio edged down to 75.3% at the end of October from 75.6% at the end of September.

Seasonally adjusted Hong Kong-dollar M1 edged up by 0.2% in October and expanded by 12.3% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 0.8% during the month and rose by 8.1% from a year earlier. 

Annex

Hong Kong Monetary Authority
30 November 2016