Jan. 3, 2012 (China Knowledge) - The Hong Kong
Monetary Authority, its de facto central bank, announced that RMB deposits at authorized financial institutions in the special administrative region had increased 1.4% from a month earlier to RMB 627.3 billion at the end of Nov, 2011.
Last November, RMB receipts under the RMB cross-boarder trade settlement program totaled RMB 184.99 billion, RMB 23.53 billion more than in October.
In the same month, total deposits rose 0.8%. The HK dollar deposits increased 0.4%, due to an increase in time deposits, and foreign currency deposits edged up 1.3%.
Total outstanding loans and advances increased 1.2% in November. The HK dollar loan-to-deposit ratio rose to 85.5% at the end of November from 84.7% at the end of Oct, 2011.
Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, increased 0.8% in November, and this increased 3.2% from the same period in 2010, while unadjusted HK dollar M3, the broader measure, climbed 0.5% in the month and rose 3.5% year on year.