Exchange Fund Figures As At End-June 1997 Announced

Exchange Fund Balance Sheet as at

.	Jun 30, 1997 (unaudited) HK$ Million	Dec 31, 1996 (Audited, as published in the 1996 annual report) HK$ Million	Jun 30, 1996 (unaudited) HK$ Million	Dec 31, 1995 (Audited, as published in the 1995 annual report) HK$ Million	Jun 30, 1995 * (unaudited) HK$ Million	Dec 31, 1994 ** (Audited, as published in the 1994 annual report) HK$ Million
ASSETS
Cash and short-term funds	125,050	126,648	117,208	100,343	93,932	62,933
Fixed deposits	66,796	63,401	56,780	76,830	72,972	107,268
Certificates of deposit	74,578	64,065	49,880	23,657	44,664	17,118
Investments	292,302	270,869	249,326	250,702	228,875	214,985
Fixed assets	167	166	97	58	0	0
Other Assets	9,861	9,368	11,703	9,144	6,591	6,181
Total Assets (Appendix A)	568,754	534,517	484,994	460,734	447,034	408,485
LIABILITIES
Certificates of Indebtedness	91,985	82,480	78,270	77,600	74,630	74,301
Coins in circulation	4,564	4,164	3,797	3,597	3,332	3,372
Balance of banking system	480	474	3,925	1,762	2,247	2,208
Exchange Fund Bills and Notes	89,338	83,509	56,726	53,311	50,840	46,140
Fiscal Reserves Account	182,168	145,898	148,801	125,916	143,908	131,240
Placements by other institutions	13,504	39,125	25,813	34,302	19,894	22,971
Other liabilities	4,828	6,005	6,008	4,112	2,154	(357)
Total Liabilities	386,867	361,655	323,340	300,600	297,005	279,875
NET ASSETS	181,887	172,862	161,654	160,134	150,029	128,610
.	=======	=======	=======	=======	=======	=======
REPRESENTING
ACCUMULATED SURPLUS	181,887	172,862	161,654	160,134	150,029	128,610
.	=======	=======	=======	=======	=======	=======

* Restated to reflect the use of market rates in the translation of US dollars
** The linked exchange rate (US$1 = HK$7.80) is used in the translation of US dollars

TOTAL ASSETS

.	Jun 30, 1997 (unaudited) HK$ Million	Dec 31, 1996 (Audited, as published in the 1996 annual report) HK$ Million	Jun 30, 1996 (unaudited) HK$ Million	Dec 31, 1995 (Audited, as published in the 1995 annual report) HK$ Million	Jun 30, 1995 * (unaudited) HK$ Million	Dec 31, 1994 ** (Audited, as published in the 1994 annual report) HK$ Million
HK$mn
Foreign currency assets	523,891	493,802	443,609	428,547	414,982	384,359
Hong Kong dollar assets	44,863	40,715	41,385	32,187	32,052	24,126
Total	568,754	534,517	484,994	460,734	447,034	408,485

Statistics on total foreign currency assets and forward foreign exchange transactions of the Exchange fund are shown below.

 

.	Jun 30, 1997 (unaudited) HK$ Million	Dec 31, 1996 (Audited, as published in the 1996 annual report) HK$ Million	Jun 30, 1996 (unaudited) HK$ Million	Dec 31, 1995 (Audited, as published in the 1995 annual report) HK$ Million	Jun 30, 1995 * (unaudited) HK$ Million	Dec 31, 1994 ** (Audited, as published in the 1994 annual report) HK$ Million
HK$mn
Exchange Fund foreign currency assets excluding forward transactions	523,891	493,802	443,609	428,547	414,982	384,359
Net forward transactions	16,377	44,235	20,578	13,507	(376)	13,979
Including forward transactions	540,268	538,037	464,187	442,054	414,606	398,338
US$ equivalent at market rates (US$ mn)	69,736	69,559	59,966	57,171	53,583	51,069

* Restated to reflect the use of market rates in the translation of US dollars
** The linked exchange rate (US$1 = HK$7.80) is used in the translation of US dollars