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Hong Kong's RMB deposits up 0.7% in Jun at RMB 557.7 bln

Aug. 1, 2012 (China Knowledge) - The Hong Kong Monetary Authority, its de-facto central bank, has announced its RMB deposits at authorized financial institutions in the special administrative region increased 0.7% MoM to RMB 557.7 billion in June 2012.

The growth rate in June was 0.3 percentage points higher than a month earlier.

In June, RMB receipts under the RMB cross-border trade settlement program totaled RMB 241.4 billion, more than the RMB 223.4 billion in May 2012.

Outstanding loans and advances increased 1.1% in June. The HK dollar loan-to-deposit ratio rose to 84% at the end of June from 83.5% from the end of May 2012.

Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, increased 1.7% MoM or 7.2% YoY in June, while unadjusted HK dollar M3, the broader measure, edge up 0.3% in the month and 6.1% from a year earlier.

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