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Hong Kong's RMB deposits up 1.7% in Oct

Dec. 3, 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 1.7% MoM to RMB 554.8 billion in October 2012.

In September, the city's RMB deposits dropped 1.2% from a month earlier.

In October, RMB receipts under the RMB cross-border trade settlement program totalled RMB 195.4 billion, less than the RMB 239.3 billion in September 2012.

Outstanding loans and advances increased 0.4% in October. The HK dollar loan-to-deposit ratio decrease to 80.4% at the end of October from 81.3% from the end of September 2012.

Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, increased 0.7% MoM or 13.3% YoY in October, while unadjusted HK dollar M3, the broader measure, edge up 1.4% in the month and 10% from a year earlier.

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