Exchange Fund Balance Sheet Data

The Hong Kong Monetary Authority (HKMA) today (14 July) released key data on the balance sheet of the Exchange Fund at end-June 1999, reporting a HK$6.7 billion decrease in the foreign assets of the Exchange Fund during the month.

Foreign assets, representing the external assets of the Exchange Fund, amounted to HK$645.4 billion. "The decrease reflected primarily an increase in foreign currency deposits placed with banks in Hong Kong, which are excluded from foreign assets," said an HKMA spokesperson.

The Monetary base, comprising Certificates of Indebtedness and coins issued, the Aggregate Balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$196.5 billion.

Claims on the private sector in Hong Kong, comprising bank deposits and investments in debt securities issued by public sector entities in Hong Kong, totalled HK$62.1 billion, an increase of HK$4.3 billion during the month. The increase reflected primarily an increase in foreign currency deposits placed with banks in Hong Kong.

The balance sheet data of the Exchange Fund are released on a monthly basis in accordance with the International Monetary Fund's Special Data Dissemination Standards (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex 1).

Hong Kong Monetary Authority

14 July 1999