The Hong Kong Monetary Authority (HKMA) announced today (31 October) that the total assets of the Exchange Fund amounted to HK$4,133.9 billion as at 30 September 2024, HK$152.4 billion higher than that at the end of August 2024. Hong Kong dollar assets increased by HK$113.9 billion and foreign currency assets increased by HK$38.5 billion.
The rise in Hong Kong dollar assets was mainly due to the increase in Exchange Fund Bills and Notes issued but not yet settled at month end and mark-to-market revaluation of Hong Kong equities. The rise in foreign currency assets was mainly due to an increase in the month-end balances of unsettled purchase of securities, mark-to-market revaluation of investments and interest income from investments, which were partly offset by withdrawals of Fiscal Reserves placements.
The Currency Board Account shows that the Monetary Base at the end of September 2024 was HK$1,941.4 billion, increased by HK$6.5 billion, or 0.3%, from the end of August 2024. The increase was mainly due to amortisation of discount on Exchange Fund Bills and Notes issued and the increase in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets decreased by HK$43.6 billion, or 2.0%, to HK$2,129.4 billion at the end of September 2024. The decrease was mainly attributable to the transfer of assets out of the Backing Portfolio to the Investment Portfolio in accordance with the arrangement approved by the Exchange Fund Advisory Committee and mark-to-market revaluation of investments, which were partly offset by interest income from investments. The Backing Ratio decreased from 112.31% at the end of August 2024 to 109.68% at the end of September 2024.
Annex 1: Abridged Balance Sheet of the Exchange Fund
Annex 2: Currency Board Account
Hong Kong Monetary Authority
31 October 2024
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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 2024, the scheduled dates for issuing the press releases are as follows:
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7 October
(Issued)
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SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
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14 October
(Issued)
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SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
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31 October
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SDDS Template on International Reserves and
Foreign Currency Liquidity
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31 October
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Exchange Fund Abridged Balance Sheet and
Currency Board Account
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