**************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions decreased by 0.2% in September. As the contraction in savings deposits exceeded the expansion in demand and time deposits, Hong Kong-dollar deposits declined by 0.3% during the month. Foreign-currency deposits also shrank slightly by 0.1% in September, although renminbi deposits grew by 2.2% to RMB622.2 billion at the end of September. The total remittance of the renminbi for cross-border trade settlement amounted to RMB190.6 billion in September, compared with RMB185.8 billion in August.
Total loans and advances increased by 0.9% in September. Loans for use in Hong Kong climbed by 0.1% and loans for use outside Hong Kong expanded by 3.2%. As Hong Kong-dollar loans grew while deposits contracted, the Hong Kong-dollar loan-to-deposit ratio rose to 86.6% at the end of September from 85.9% a month earlier.
In the third quarter of 2011, loans for use in Hong Kong expanded by 1.8%, compared with a 4.3% increase in the previous quarter. Analysed by economic use, growth in residential mortgage loans slowed amid rising mortgage interest rates and some consolidation of the residential property market. Trade finance and loans to wholesale and retail trade also recorded slower quarterly growth.
Seasonally adjusted Hong Kong-dollar M1 contracted by 1.2% in September but expanded by 5.7% year on year. Unadjusted Hong Kong-dollar M3 declined by 0.1% during the month and decreased by 0.4% from a year earlier.
Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2012 is as follows.
Reference Month Release Date
January 2012 February 29, 2012
February 2012 March 30, 2012
March 2012 April 30, 2012
April 2012 May 31, 2012
May 2012 June 29, 2012
June 2012 July 31, 2012
July 2012 August 31, 2012
August 2012 September 28, 2012
September 2012 October 31, 2012
October 2012 November 30, 2012
November 2012 December 31, 2012
December 2012 January 31, 2013
Ends/Monday, October 31, 2011
Issued at HKT 16:51
NNNN
