Total deposits in Macao banks registered a slight drop of 0.6 percent month-to-month in August 2008, of which the value of pataca and Hong Kong dollar deposits amounted to 51.2 billion patacas (6.4 billion U.S. dollars) and 116 billion patacas (14.5 billion dollars) respectively, according to the figures Thursday released by the Monetary Authority (AMCM) of Macao Special Administration Region (SAR).
The AMCM said that resident deposits increased by two percent month-to-month in August to 185.9 billion patacas (23.2 billion dollars), while non-resident deposits amounted to 69.4 billion patacas (8.67 dollars), down 6.9 percent. The shares of patacas and HK dollars in total deposits were 20 percent and 45.4 percent respectively.
The AMCM also said that although domestic credit to the private sector continued to grow, public sector deposits rose at a faster pace, resulting in a marked decline in total domestic credit, which, after deducting public sector deposits, shrank to 1.7 billion patacas (212 million dollars) in August.
In addition, Macao's net foreign assets held by AMCM at end- August reached 134.6 billion patacas (16.8 billion dollars), up 1.5 percent month-to-month or 28.3 percent year-on-year. Meanwhile, net foreign assets of local banks rose 3.5 percent from the previous month to 92.3 billion patacas (11.5 billion dollars).
Source:Xinhua
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