Exchange Fund Balance Sheet Data

The Hong Kong Monetary Authority (HKMA) released today (15 November) key data on the balance sheet of the Exchange Fund at end-October 1999, reporting an increase of HK$1.0 billion in the foreign assets of the Exchange Fund during the month.

Foreign assets, representing the external assets of the Exchange Fund, amounted to HK$663.8 billion. 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$199.1 billion. Claims on the private sector in Hong Kong amounted to HK$51.7 billion.

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 Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex 1).

Hong Kong Monetary Authority

15 November 1999

Annex 1

Analytical Accounts of the Central Bank

(in millions of Hong Kong dollars)

r - revised figure

(1) The Monetary Base comprises Certificates of Indebtedness (for backing the currency notes) and coins issued, the Aggregate Balance of the banking system and Exchange Fund Bills and Notes issued.

(2) Claims on the Hong Kong SAR Government refer to any lending to the Government.

(3) Claims on the Private Sector in Hong Kong include bank deposits and investments in debt securities issued by public sector entities in Hong Kong held by the Exchange Fund.

(4) Foreign Assets represent the external assets of the Exchange Fund and exclude foreign currency deposits placed with banks in Hong Kong.

(5) Foreign Liabilities include margin payable on securities transactions, fees payable to the Exchange Fund's external managers and obligations under repurchase agreements.

Hong Kong Monetary Authority

15 November 1999