Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (February 28) that the total assets of the Exchange Fund amounted to HK$4,248.6 billion as at January 31, 2023, HK$237.5 billion higher than that at the end of December 2022. Foreign currency assets increased by HK$158.9 billion and Hong Kong dollar assets increased by HK$78.6 billion.
The rise in foreign currency assets was mainly due to the mark-to-market revaluation on investments, the proceeds from the issuance of Government Green Bonds and the increase in the month-end balances of unsettled purchase of securities. The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled and the mark-to-market revaluation on Hong Kong equities.
The Currency Board Account shows that the Monetary Base at the end of January 2023 was HK$1,927.2 billion, increased by HK$11.1 billion, or 0.6 per cent, from the end of December 2022. The rise was mainly due to increases in the outstanding amount of Certificates of Indebtedness and the market value of Exchange Fund Bills and Notes outstanding.
The amount of Backing Assets increased by HK$28.7 billion, or 1.4 per cent, to HK$2,138.7 billion at the end of January 2023. The increase was mainly attributable to the income from investments and the issuance of Certificates of Indebtedness. The backing ratio increased from 110.12 per cent at the end of December 2022 to 110.98 per cent at the end of January 2023.
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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 February 2023, the scheduled dates for issuing the press releases are as follows:
| February 7 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| February 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| February 28 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| February 28 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Tuesday, February 28, 2023
Issued at HKT 16:30
Issued at HKT 16:30
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