Financial news
Written by: Zhai Ziqian
2019-11-29 19:27
Last updated: 2019-11-29 19:27The HKMA announced that as of the end of October this year, total deposits of authorized institutions increased by 1% month-on-month, of which Hong Kong dollar deposits increased by 0.4% and foreign currency deposits increased by 1.6%. As for RMB deposits, it also increased by 2.1% to RMB 636.4 billion. The total amount of RMB remittances for cross-border trade settlement in October was 429.4 billion yuan, compared with 458.2 billion yuan in September.
Total loans and advances increased by 0.4% in October. Of these, loans used in Hong Kong (including trade finance) increased by 0.1% from the previous month, while loans used outside Hong Kong increased by 1.0%. As Hong Kong dollar loans increased more than Hong Kong dollar deposits, the Hong Kong dollar loan-to-deposit ratio rose slightly from 90.6% at the end of September to 90.7% at the end of October.
Hong Kong dollar M2 and M3 increased by 0.4% month-on-month in October, compared with the same period last year, and rose by 2.8% and 2.7% respectively.
The seasonally adjusted Hong Kong dollar M1 in October rose by 0.4% month-on-month and fell 2.2% year-on-year, narrowing from the previous month, partly reflecting investment-related activities. The total money supply M2 and M3 both increased by 1.1% in October, and increased by 4.1% and 4% respectively compared with the same period last year.
Monetary Authority's Renminbi Deposits in Hong Kong