************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (November 30) by the Hong Kong Monetary Authority, total deposits with authorised institutions grew by 1.9% in October. As demand and savings deposits increased while time deposits were little changed, Hong Kong-dollar deposits rose by 1.5% during the month. Overall foreign-currency deposits expanded by 2.2% in October, and renminbi deposits in Hong Kong increased by 1.7% to RMB554.8 billion. The total remittance of renminbi for cross-border trade settlement amounted to RMB195.4 billion in October, compared with RMB239.3 billion in the previous month.
Total loans and advances rose by 0.4% in October. Loans for use in Hong Kong increased by 0.3% and loans for use outside Hong Kong grew by 0.5%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio decreased to 80.4% at the end of October from 81.3% a month ago.
Seasonally adjusted Hong Kong-dollar M1 increased by 0.7% in October and climbed by 13.3% year on year. Unadjusted Hong Kong-dollar M3 rose by 1.4% during the month and expanded by 10.0% from a year earlier.
Ends/Friday, November 30, 2012
Issued at HKT 18:31
NNNN
