The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (March 29) that the total assets of the Exchange Fund amounted to HK$4,189.6 billion as at February 28, 2018, HK$3.0 billion lower than that at the end of January 2018. Foreign currency assets increased by HK$9.8 billion while Hong Kong dollar assets decreased by HK$12.8 billion.
 
     The rise in foreign currency assets was mainly due to the increase in unsettled purchases of securities and the issuance of Certificates of Indebtedness, which were partly offset by mark-to-market reduction in value of foreign currency portfolios. The decline in Hong Kong dollar assets was mainly due to the fall in market value of Hong Kong equities and withdrawals of placements by HKSAR government funds and statutory bodies, which were partly offset by additional placements from Fiscal Reserves.
 
     The Currency Board Account shows that the Monetary Base at the end of February 2018 was HK$1,717.5 billion, increased by HK$16.9 billion, or 1 per cent, from the end of January 2018. The rise was mainly due to the increase in the outstanding amount of Certificates of Indebtedness, which reflected the seasonal demand for banknotes around Lunar New Year.
 
     The amount of Backing Assets increased by HK$18.0 billion, or 1 per cent, to HK$1,854.5 billion. The increase was mainly attributable to the issuance of Certificates of Indebtedness and income from investments. The backing ratio decreased from 108 per cent at the end of January 2018 to 107.98 per cent at the end of February 2018.
 
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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 March 2018, the scheduled dates for issuing the press releases are as follows:
 

March 7 (Issued)	SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
March 14 (Issued)	SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
March 29	SDDS Template on International Reserves and Foreign Currency Liquidity
March 29	Exchange Fund Abridged Balance Sheet and Currency Board Account

 

Ends/Thursday, March 29, 2018
Issued at HKT 16:43

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