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Total deposits with authorised institutions fell 4.9% in June, as a 10.3% drop in Hong Kong dollar deposits outweighed a 2.1% rise in foreign currency deposits, the Monetary Authority says. Renminbi deposits fell 0.6% to RMB22.7 billion.
Total loans and advances fell 5.5% in June, as a 7% drop in loans for use in Hong Kong more than offset the 7.4% rise in loans for use outside the city. Hong Kong dollar loans fell 7.3%, but foreign currency loans rose 1%.
As Hong Kong dollar deposits declined proportionally more than Hong Kong dollar loans, the loan-to-deposit ratio grew to 80.9%.
On a seasonally adjusted basis, Hong Kong dollar M1 fell 0.3% in June and 2.2% on the same period last year. Unadjusted Hong Kong dollar M2 and M3 fell 9.6% and 9.5% during the month, but rose 13.2% and 13.3% in a year-on-year comparison.
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