The Hong Kong Monetary Authority (HKMA) released today (14
December) key data on the balance sheet of the Exchange Fund at
end-November 1999, reporting a decrease of HK$8.2 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$655.6 billion. The decrease reflected
primarily the valuation effect of foreign currency investments and
the conversion of foreign currency securities in the external
assets into foreign currency deposits with local banks (which does
not count towards foreign assets).
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$202.5
billion.
Claims on the private sector in Hong Kong amounted to HK$89.0
billion. The increase of HK$37.3 billion reflected primarily
proceeds from the sale of Hong Kong equities through the Tracker
Fund deposited 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 Standard (SDDS) and are referred to as
the Analytical Accounts of the Central Bank under SDDS (Annex 1).
Hong Kong Monetary Authority
14 December 1999
Annex 1
Analytical Accounts of the Central
Bank
(in millions of Hong Kong dollars)
| |
| |
Monetary Base (1) |
Claims on the Hong Kong SAR Government
(2) |
Claims on the Private Sector in Hong
Kong (3) |
Foreign Assets (4) |
Foreign Liabilities (5) |
| 31 Jan 1999 |
196,520
|
0
|
80,078
|
655,955
|
310
|
| 28 Feb 1999 |
203,042
|
0
|
71,566
|
661,465
|
46
|
| 31 March 1999 |
199,433
|
0
|
68,142 r
|
655,862
|
25
|
| 30 April 1999 |
198,256
|
0
|
60,145
|
656,843
|
20
|
| 31 May 1999 |
197,281
|
0
|
57,826
|
652,107
|
8
|
| 30 June 1999 |
196,479
|
0
|
62,106
|
645,393
|
35
|
| 31 July 1999 |
196,041
|
0
|
48,389
|
654,866
|
47
|
| 31 August 1999 |
196,568
|
0
|
54,623
|
655,054
|
40
|
| 30 September 1999 |
200,768
|
0
|
55,914
|
662,831
|
489
|
| 31 October 1999 |
199,145
|
0
|
51,748
|
663,782
|
44
|
| 30 November 1999 |
202,546
|
0
|
89,020
|
655,569
|
43
|
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
14 December 1999
