Total deposits with authorised institutions fell 0.4% in July, as a fall of 1.5% in Hong Kong dollar deposits offset a 0.9% rise in foreign currency deposits.

The Monetary Authority said within foreign currency deposits, renminbi deposits amounted to 7.2 billion yuan, compared with 6.8 billion yuan in June.

Total loans and advances fell 0.9% in July, with loans for use in and outside Hong Kong falling 0.5% and 4.9%.

Analysed by currency, Hong Kong dollar and foreign currency loans both recorded falls. As Hong Kong dollar deposits fell more than Hong Kong dollar loans, the loan-to-deposit ratio rose to 86% in July.

On a seasonally adjusted basis, Hong Kong dollar M1 shrank 3.7% in July, but grew 32.7% from a year ago.

Unadjusted Hong Kong dollar M2 and M3 both fell 1.4% during the month, but registered a small rise of 1.5% and 1.3% on a year-on-year comparison.