Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

30 Jun 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$3,020.2 billion as at 31 May 2014, HK$29.8 billion lower than that at the end of April 2014. Foreign currency assets decreased by HK$15.3 billion and Hong Kong dollar assets decreased by HK$14.5 billion.

The decline in foreign currency assets was mainly due to a decrease in unsettled purchases of securities, which was partly offset by the purchase of foreign currencies with Hong Kong dollars and valuation gains on foreign currency investments. The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns and the sale of Hong Kong dollars for foreign currencies. These decreases were partly offset by valuation gains on Hong Kong equities.

The Currency Board Account shows that the Monetary Base at the end of May 2014 was HK$1,260.7 billion, increased by HK$2.0 billion, or 0.2%, from the end of April 2014. The rise was due to an increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets increased by HK$3.2 billion, or 0.2%, to HK$1,356.9 billion. The rise was attributable to an increase in assets connected with the issuance of additional Certificates of Indebtedness and revaluation gains. The backing ratio increased from 107.54% at the end of April 2014 to 107.63% at the end of May 2014.

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

Hong Kong Monetary Authority
30 June 2014

*****************************************************************

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

6 June
(Issued)

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

13 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

 

Latest Press Releases
Last revision date : 30 June 2014