Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

30 Sep 2010

Exchange Fund Abridged Balance Sheet and Currency Board Account

The Hong Kong Monetary Authority (HKMA) announced today (Thursday) that the total assets of the Exchange Fund amounted to HK$2,276.0 billion on 31 August 2010.

The figure is included in the Exchange Fund Abridged Balance Sheet, which is released monthly together with the Currency Board Account.

At the end of August 2010 the total assets of the Exchange Fund, at HK$2,276.0 billion, were HK$43.9 billion higher than at the end of July 2010. Foreign currency assets increased by HK$24.2 billion and Hong Kong dollar assets increased by HK$19.7 billion.

The rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities and valuation gains on foreign currency investments. The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled, which was partly offset by valuation losses on Hong Kong equities and fiscal drawdowns.

The Currency Board Account shows that the Monetary Base at the end of August 2010 was HK$1,025.1 billion, an increase of HK$0.2 billion, or 0.02%, from the end of July 2010. The rise was mainly due to an increase in market value of Exchange Fund Bills and Notes outstanding which was substantially offset by a decrease in Certificates of Indebtedness.

The Backing Assets increased by HK$5.3 billion, or 0.48%, to HK$1,111.5 billion. The increase was mainly attributable to revaluation gains and interest from investments which were partly offset by the redemption of Certificates of Indebtedness. The backing ratio increased from 107.93% at the end of July 2010 to 108.43% at the end of August 2010.

Attachment
Annex 1 : Abridged Balance Sheet of the Exchange Fund
Annex 2 : Currency Board Account

For media enquiries, please contact:

Peggy Lo, Manager (Communications), at 2878 1687 or
Natalie Wu, Officer (Communications), at 2878 8246
Hong Kong Monetary Authority

30 September 2010

 

At present, four press releases relating to the Exchange Fund's data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund's Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA's policy of maintaining a high level of transparency. For the month of September 2010, the scheduled dates for issuing the press releases are as follows:

7 September
(Issued)
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
14 September
(Issued)
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
30 September Exchange Fund Abridged Balance Sheet and Currency Board Account
30 September SDDS Template on International Reserves and Foreign Currency Liquidity
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Last revision date : 30 September 2010