Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

31 Oct 2014

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$3,214.6 billion as at 30 September 2014, HK$107.6 billion higher than that at the end of August 2014.  Foreign currency assets increased by HK$76.0 billion and Hong Kong dollar assets increased by HK$31.6 billion.

The rise in foreign currency assets was mainly due to increased holding of foreign currency deposits, an increase in unsettled purchases of securities and the issuance of Certificates of Indebtedness.  These increases were partly offset by valuation losses 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.

The Currency Board Account shows that the Monetary Base at the end of September 2014 was HK$1,347.2 billion, increased by HK$8.4 billion, or 0.6%, from the end of August 2014.  The rise was mainly due to an increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets increased by HK$11.1 billion, or 0.8%, to HK$1,445.5 billion.  The rise was mainly attributable to an increase in assets connected with the issuance of Certificates of Indebtedness and exchange gains.  The backing ratio increased from 107.14% at the end of August 2014 to 107.30% at the end of September 2014.

 

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

 

Hong Kong Monetary Authority
31 October 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 October 2014, the scheduled dates for issuing the press releases are as follows:

8 October
(Issued)

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

14 October
(Issued)

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

31 October

Exchange Fund Abridged Balance Sheet and Currency Board Account

31 October

SDDS Template on International Reserves and Foreign Currency Liquidity

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Last revision date : 31 October 2014