HONG KONG MONETARY AUTHORITY Annual Report 1996

NOTES ON THE ACCOUNTS*

11. TOTAL ASSETS

 

				1996 HK$ million	1995 HK$ million
Foreign currency assets				493,802	428,547
Hong Kong dollar assets				40,715	32,187
Total				534,517	460,734

 

Quarterly statistics on total foreign currency assets and forward foreign exchange transactions of the Exchange Fund are published. The information for 31 December 1996 is shown below, with comparative figures for 1995:

					1996 HK$ million	1995 HK$ million
Exchange Fund foreign currency
assets excluding forward
transactions					493,802	428,547
Net forward transactions					44,235	13,507
Including forward transactions					538,037	442,054
US$ equivalent at market rate					US$69,559million	US$57,171million

 

12. CERTIFICATES OF INDEBTEDNESS

 

As backing for the bank notes issues, each note-issuing bank is required to hold a non-interest bearing Certificate of Indebtedness issued by the Financial Secretary. Payments for the issuance and redemption of notes against these Certificates are made in US dollars at a fixed rate of US$1=HK$7.80.

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