Exchange Fund Abridged Balance Sheet and Currency Board Account
The Hong Kong Monetary Authority (HKMA) announced today (31 July) that the total assets of the Exchange Fund amounted to HK$956.1 billion as at 30 June 2000.
The figure is included in the Exchange Fund Abridged Balance Sheet, which is released monthly together with the Currency Board Account.
At the end of June 2000, the total assets of the Exchange Fund, at HK$956.1 billion, were HK$21.7 billion higher than at the end of May. Both foreign currency assets and Hong Kong dollar assets increased, by HK$14.3 billion and HK$7.4 billion respectively.
The increase in foreign currency assets was mainly attributable to revaluation effects on foreign currency investments. The increase in Hong Kong dollar assets was largely due to an increase in the market value of Hong Kong equities, which was partly offset by a decrease in placements by other government funds.
Figures in the Currency Board Account show that the monetary base at the end of June was HK$208.3 billion, an increase of HK$3.2 billion, or 1.6%, from the end of May 2000. The rise was mainly due to increases in Certificates of Indebtedness and the Aggregate Balance.
The backing assets increased by HK$4 billion, or 1.8%, from HK$226.4 billion to HK$230.4 billion. The rise was mainly driven by the corresponding increases in Certificates of Indebtedness and the Aggregate Balance, together with net income and revaluation gains of HK$1.7 billion. Reflecting this, the backing ratio increased from 110.3% at the end of May to 110.6% at the end of June.
At present, four press releases relating to the Exchange Fund's data are issued 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, the scheduled dates for issuing the press releases are as follows:
| 7 July | SDDS International Reserves (Hong Kong's Latest |
| (Issued) | Foreign Currency Reserve Assets Figures) |
| 14 July | SDDS Analytical Accounts of the Central Bank (Exchange |
| (Issued) | Fund Balance Sheet Data) |
| 31 July | Exchange Fund Abridged Balance Sheet and Currency |
| Board Account | |
| 31 July | SDDS Template on International Reserves and Foreign |
| Currency Liquidity |
For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Caitlin Wong, Manager (Press), at 2878 1687
Hong Kong Monetary Authority
31 July 2000
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