Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (July 29) that the total assets of the Exchange Fund amounted to HK$3,542.8 billion as at June 30, 2016, HK$34.8 billion lower than that at the end of May 2016. Foreign currency assets increased by HK$28.5 billion while Hong Kong dollar assets decreased by HK$63.3 billion.
The rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities, the mark-to-market gains on foreign currency portfolios and the issuance 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 withdrawals of placements by Fiscal Reserves, which were partly offset by an increase in bank borrowings.
The Currency Board Account shows that the Monetary Base at the end of June 2016 was HK$1,607.3 billion, increased by HK$5.1 billion, or 0.3%, from the end of May 2016. The rise was mainly due to an increase in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets increased by HK$6.9 billion, or 0.4%, to HK$1,720.5 billion. The increase was mainly attributable to the issuance of Certificates of Indebtedness, valuation gains and interest from investments. The backing ratio increased from 106.96% at the end of May 2016 to 107.05% at the end of June 2016.
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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 July 2016, the scheduled dates for issuing the press releases are as follows:
| July 7 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| July 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| July 29 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| July 29 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Friday, July 29, 2016
Issued at HKT 16:30
Issued at HKT 16:30
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