Silica sol bound catalytic cracking catalyst stabilized with magnesium

A rare earth free particulate catalytic cracking catalyst which comprises a zeolite having catalytic cracking ability under catalytic cracking conditions, an acidified silica sol binder, magnesium salt, clay and a matrix material. The catalytic cracking catalyst has a high matrix surface area and is useful in a catalytic cracking process, in particularly, a fluid catalytic cracking process, to provide increased catalytic activity and improved hydrogen and coke selectivity without the need to incorporate rare earth metals.