********************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (October 31) that the total assets of the Exchange Fund amounted to HK$2,934.8 billion as at September 30, 2013, HK$76.4 billion higher than that at the end of August 2013. Foreign currency assets increased by HK$29.8 billion and Hong Kong dollar assets increased by HK$46.6 billion.
The rise in foreign currency assets was mainly due to valuation gains on foreign currency investments. The rise in Hong Kong dollar assets was mainly due to valuation gains on Hong Kong equities, an increase in Exchange Fund Bills and Notes issued but not yet settled and an increase in bank borrowings. These increases were partly offset by fiscal drawdowns.
The Currency Board Account shows that the Monetary Base at the end of September 2013 was HK$1,245.1 billion, increased by HK$6.7 billion, or 0.5 per cent, from the end of August 2013. The rise was due to an increase in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets increased by HK$8.5 billion, or 0.6 per cent, to HK$1,339.8 billion. The rise was attributable to an increase in assets connected with the issuance of additional Certificates of Indebtedness and revaluation gains. The backing ratio increased from 107.50 per cent at the end of August 2013 to 107.60 per cent at the end of September 2013.
*****************************************************
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 2013, the scheduled dates for issuing the press releases are as follows:
October 7 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
October 11(Issued)
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
October 31
Exchange Fund Abridged Balance Sheet and Currency Board Account
October 31
SDDS Template on International Reserves and Foreign Currency Liquidity
Ends/Thursday, October 31, 2013
Issued at HKT 17:43
NNNN