HONG KONG MONETARY AUTHORITY Annual Report 1996

NOTES ON THE ACCOUNTS*

(f) Investment in Bank for International Settlements

Investment in Bank for International Settlements is accounted for at cost.

(g) Revenue recognition

Interest income is recognised on an accruals basis and dividend income is recognised when the dividends are declared.

(h) Borrowing costs

Interest costs are recognised on an accruals basis. Discounts and premiums relating to borrowings are amortised.

 

3. INCOME

 

(a) Investment income

				1996 HK$ million	1995 HK$ million
Interest income				22,124	22,373
Dividend income				414	371
Net exchange gains (losses)				(1,631)	3,100
Net investment and revaluation gains				4,477	20,890
Total				25,384	46,734

 

(b) Licence fees are fees paid by authorised institutions under the Banking Ordinance.

(c) Others include income from sale of withdrawn coins and Central Moneymarkets Unit fees.