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Monetary Authority

The Hong Kong Monetary Authority is the government authority responsible for maintaining monetary and banking stability. It maintains currency stability within the framework of the Linked Exchange Rate system, helps maintain Hong Kong's status as an international financial centre, and manages the Exchange Fund.

Total deposits up 0.5%

September 30, 2010

Total deposits rose 0.5% in August, with a 0.4% and 0.7% rise in Hong Kong-dollar and foreign-currency deposits, the Monetary Authority says.


Accounting for 4.9% of foreign-currency deposits, renminbi deposits grew 25.8% to RMB130.4 billion, reflecting the expanding scope of renminbi banking business in Hong Kong.


Total loans and advances rose 2.5%. Loans for use in Hong Kong grew 2.2% and loans for use outside Hong Kong rose 3.4%. As Hong Kong-dollar loans rose at a faster rate than deposits, the Hong Kong-dollar loan-to-deposit ratio rose to 78.5% at the end of August.


Seasonally adjusted Hong Kong-dollar M1 grew 3.6% in August and rose 12.6% year on year. Unadjusted Hong Kong-dollar M3 increased by 0.4% during the month and expanded by 5.2% on a year earlier.