Total deposits with authorised institutions rose 0.8% in October while yuan deposits fell RMB100 million from September to RMB22.5 billion, the first decrease since the launch of personal yuan deposit-taking business in February last year.

October saw a 2% rise in foreign-currency deposits, which more than offset a decline of 0.3% in Hong Kong-dollar deposits.

Total loans and advances grew 1.1%, with loans for use in Hong Kong rising 1% and outside Hong Kong 1.4%. Analysed by currency, both Hong Kong-dollar lending and foreign-currency loans increased. As Hong Kong-dollar loans rose and Hong Kong-dollar deposits fell, the loan-to-deposit ratio increased to 85.6% in October.

On a seasonally-adjusted basis, Hong Kong-dollar M1 rose 2.2% in October but went down 6.6% from a year earlier. Unadjusted Hong Kong-dollar M2 and M3 both fell 0.3% during the month, but rose 7.5% and 7.6% on a year-on-year comparison.