Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

31 May 2013

Exchange Fund Abridged Balance Sheet and Currency Board Account

The Hong Kong Monetary Authority (HKMA) announced today (Friday) that the total assets of the Exchange Fund amounted to HK$2,970.5 billion as at 30 April 2013, HK$84.4 billion higher than that at the end of March 2013.  Foreign currency assets increased by HK$36.6 billion and Hong Kong dollar assets increased by HK$47.8 billion.

The rise in foreign currency assets was mainly due to valuation gains on foreign currency investments and purchases of foreign currencies with Hong Kong dollars.  The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled.

The Currency Board Account shows that the Monetary Base at the end of April 2013 was HK$1,235.0 billion, decreased by HK$7.3 billion, or 0.6%, from the end of March 2013.  The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets decreased by HK$5.3 billion, or 0.4%, to HK$1,337.7 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 108.10% at the end of March 2013 to 108.31% at the end of April 2013.

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

 

Hong Kong Monetary Authority
31 May 2013

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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 May 2013, the scheduled dates for issuing the press releases are as follows:

7 May
(Issued)

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

14 May
(Issued)

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

31 May

Exchange Fund Abridged Balance Sheet and Currency Board Account

31 May

SDDS Template on International Reserves and Foreign Currency Liquidity

 

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Last revision date : 31 May 2013