Total deposits with authorised institutions rose 0.7% in February, with Hong Kong dollar deposits up 0.4%, the Monetary Authority says.

US dollar deposits grew 1.2%, while non-US dollar foreign-currency deposits rose 1.1%. Renminbi deposits rose 18.3% to 47.8 billion yuan, accounting for 1.9% of foreign-currency deposits.

Total loans and advances rose 1.4% as loans for use in Hong Kong grew 1.4% and loans for use outside Hong Kong rose 1.5%. The Hong Kong dollar loan-to-deposit ratio rose to 74.1%.

On a seasonally adjusted basis, Hong Kong dollar M1 dropped 2.7% in February but rose 15.1% over a year earlier. Unadjusted Hong Kong dollar M3 grew 0.2% during the month and 8.4% year on year.