Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

30 Jun 2011

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$2,490.1 billion as at 31 May 2011.

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 May 2011 the total assets of the Exchange Fund, at HK$2,490.1 billion, were HK$43.4 billion higher than at the end of April 2011. Foreign currency assets increased by HK$11.1 billion and Hong Kong dollar assets increased by HK$32.3 billion.

The rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities, which was partly offset by a decrease in Certificates of Indebtedness. 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 fiscal drawdowns.

The Currency Board Account shows that the Monetary Base at the end of May 2011 was HK$1,049.9 billion, a decrease of HK$5.3 billion, or 0.5%, from the end of April 2011. The decline was mainly due to a decrease in Certificates of Indebtedness.

The Backing Assets decreased by HK$1.5 billion, or 0.1%, to HK$1,136.2 billion. The decrease was mainly attributable to the redemption of Certificates of Indebtedness which was partly offset by revaluation gains and interest from investments. The backing ratio increased from 107.82% at the end of April 2011 to 108.22% at the end of May 2011.

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

Hong Kong Monetary Authority
30 June 2011

 

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 June 2011, the scheduled dates for issuing the press releases are as follows:

7 June
(Issued)
SDDS International Reserves (Hong Kong's Latest
Foreign Currency Reserve Assets Figures)
14 June
(Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
30 June Exchange Fund Abridged Balance Sheet and Currency
Board Account
30 June SDDS Template on International Reserves and Foreign
Currency Liquidity
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Last revision date : 30 June 2011