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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (August 31) that the total assets of the Exchange Fund amounted to HK$3,264.6 billion as at July 31, 2015, HK$51.4 billion lower than that at the end of June 2015. Foreign currency assets decreased by HK$4.0 billion and Hong Kong dollar assets decreased by HK$47.4 billion.
The decline in foreign currency assets was mainly due to the redemption of Certificates of Indebtedness. The decline in Hong Kong dollar assets was mainly due to a decrease in Exchange Fund Bills and Notes issued but not yet settled and mark-to-market losses on Hong Kong equities.
The Currency Board Account shows that the Monetary Base at the end of July 2015 was HK$1,419.8 billion, decreased by HK$4.5 billion, or 0.3 per cent, from the end of June 2015. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets decreased by HK$3.7 billion, or 0.2 per cent, to HK$1,520.8 billion. The decrease was mainly attributable to the redemption of Certificates of Indebtedness, which was partly offset by interest from investments. The backing ratio increased from 107.04 per cent at the end of June 2015 to 107.12 per cent at the end of July 2015.
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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 August 2015, the scheduled dates for issuing the press releases are as follows:
August 7 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
August 14 (Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
August 31
SDDS Template on International Reserves and Foreign Currency Liquidity
August 31
Exchange Fund Abridged Balance Sheet and Currency Board Account
Ends/Monday, August 31, 2015
Issued at HKT 16:36
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