Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

31 Mar 2014

Exchange Fund Abridged Balance Sheet and Currency Board Account

The Hong Kong Monetary Authority (HKMA) announced today (Monday) that the total assets of the Exchange Fund amounted to HK$3,016.9 billion as at 28 February 2014, HK$2.8 billion higher than that at the end of January 2014.  Foreign currency assets increased by HK$18.4 billion while Hong Kong dollar assets decreased by HK$15.6 billion.

The rise in foreign currency assets was mainly due to increased holding of foreign currency deposits and valuation gains on foreign currency investments.  These increases were partly offset by a decrease in foreign currency assets connected with the redemption of Certificates of Indebtedness.  The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns, which was partly offset by additional placements received from HKSAR government funds and statutory bodies and valuation gains on Hong Kong equities. 

The Currency Board Account shows that the Monetary Base at the end of February 2014 was HK$1,257.8 billion, decreased by HK$22.7 billion, or 1.8%, from the end of January 2014.  The decline was due to a decrease in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets decreased by HK$22.8 billion, or 1.7%, to HK$1,354.4 billion.  The decrease was attributable to the reduction in assets connected with the redemption of Certificates of Indebtedness.  The backing ratio increased from 107.56% at the end of January 2014 to 107.68% at the end of February 2014.

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

 

Hong Kong Monetary Authority
31 March 2014

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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 March 2014, the scheduled dates for issuing the press releases are as follows:

7 March
(Issued)

SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)

14 March
(Issued)

SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)

31 March

Exchange Fund Abridged Balance Sheet and Currency Board Account

31 March

SDDS Template on International Reserves and Foreign Currency Liquidity

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Last revision date : 31 March 2014