cates the liquidity available to meet expected and unexpected demand for cash is widely used. Concurrently, the ratio of loans to deposits,which depicts the percentage of deposit funding that is tired-up in loan portfolios, is also an important indicator measuring the vulnerability of the banking system. Thanks to Macao ’s participation in the General Data Dissemination System, the development of Macao ’s statistical system has been satisfactorily by international standards in terms of data quality and variety.23 Still, itis likely that data periodicity and time series length for some of the aforementioned indicators in Macao are inadequate to produce statistically stable results when constructing a EWS. Those indicators may include output on the selected list as well as delinquency ratios
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