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YearQuarterM1 (HK$ million)
HK$Foreign currencyTotal (M1)
non-adjustedseasonally adjusted
2015 1,253,380 1,258,391 717,766 1,971,146
2016 1,428,775 1,438,041 785,195 2,213,970
2017 1,598,014 1,608,688 833,447 2,431,461
2017 Q2 1,502,456 1,514,318 796,564 2,299,020
Q3 1,607,223 1,579,023 786,244 2,393,467
Q4 1,598,014 1,608,688 833,447 2,431,461
2018 Q1 1,656,884 1,675,617 816,553 2,473,438
Q2 1,660,700 1,644,832 859,225 2,519,925

YearQuarterM2 (HK$ million)
HK$Foreign currencyTotal (M2)
non-adjustedadjusted to include foreign currency swap depositsnon-adjustedadjusted to exclude foreign currency swap deposits
2015 5,765,501 5,765,549 5,852,940 5,852,892 11,618,441
2016 6,280,187 6,280,230 6,227,940 6,227,896 12,508,127
2017 7,010,279 7,010,345 6,744,977 6,744,910 13,755,255
2017 Q2 6,837,132 6,837,206 6,477,562 6,477,489 13,314,695
Q3 7,004,186 7,004,256 6,480,252 6,480,182 13,484,438
Q4 7,010,279 7,010,345 6,744,977 6,744,910 13,755,255
2018 Q1 7,229,491 7,229,517 6,706,043 6,706,016 13,935,534
Q2 7,262,481 7,262,507 6,717,467 6,717,441 13,979,948

YearQuarterM3 (HK$ million)
HK$Foreign currencyTotal (M3)
non-adjustedadjusted to include foreign currency swap depositsnon-adjustedadjusted to exclude foreign currency swap deposits
2015 5,778,725 5,778,772 5,876,295 5,876,247 11,655,019
2016 6,292,622 6,292,666 6,258,708 6,258,665 12,551,331
2017 7,024,447 7,024,514 6,779,391 6,779,324 13,803,837
2017 Q2 6,850,411 6,850,484 6,511,281 6,511,208 13,361,692
Q3 7,019,395 7,019,465 6,514,196 6,514,126 13,533,592
Q4 7,024,447 7,024,514 6,779,391 6,779,324 13,803,837
2018 Q1 7,245,917 7,245,943 6,741,844 6,741,818 13,987,761
Q2 7,279,247 7,279,273 6,753,278 6,753,252 14,032,525

Notes : Figures refer to all authorized institutions (AIs), which include licensed banks, restricted licence banks (RLBs) and deposit-taking companies (DTCs).
 Figures are revised on a monthly basis to take into account any subsequent amendments submitted by AIs.
 RLBs can accept time deposits in amounts of not less than HK$500,000 with any term of maturity. There is no restriction on interest rate payable.
 DTCs can accept time deposits in amounts of not less than HK$100,000 with a term of maturity of at least three months. There is no restriction on interest rate payable.
 M1 refers to the sum of legal tender notes and coins held by the public plus customers demand deposits placed with licensed banks.
 M2 refers to the sum of M1 plus customers' savings and time deposits with licensed banks, plus negotiable certificates of deposits (NCDs) issued by licensed banks held by non-authorized institutions.
 M3 refers to the sum of M2 plus customer deposits with restricted licence banks (RLBs) and deposit-taking companies (DTCs) plus negotiable certificates of deposits (NCDs) issued by RLBs and DTCs held by non-authorized institutions.
 Among the various monetary aggregates, seasonal patterns are found in Hong Kong dollar M1, currency held by the public, and demand deposits. The seasonally adjusted data series facilitate the analysis of underlying trends.
 Foreign currency swap deposits are deposits involving customers buying foreign currencies in the spot market and placing them as deposits with authorized institutions, while at the same time entering into a forward contract to sell such foreign currencies (principal plus interest) upon maturity of such deposits. For most analytical purposes, these should be regarded as Hong Kong dollar deposits.
Source : Hong Kong Monetary Authority
For further information, please visit the website of the Hong Kong Monetary Authority
(Enquiry telephone no. : 2878 8222
 Enquiry e-mail : hkma@hkma.gov.hk)


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