Exchange Fund Abridged Balance Sheet and Currency Board Account
The Hong Kong Monetary Authority (HKMA) announced today (29 November) that the total assets of the Exchange Fund amounted to HK$945.1 billion as at 31 October 1999.
The figure is included in the Exchange Fund Abridged Balance Sheet, which is released on a monthly basis together with the Currency Board Account. The footnotes on the Exchange Fund Abridged Balance Sheet refer to the related items on the Currency Board Account.
At end-October 1999, the total assets of the Exchange Fund at HK$945.1 billion were HK$0.4 billion lower than at end-September 1999. Foreign currency assets decreased by HK$7.7 billion while Hong Kong dollar assets increased by HK$7.3 billion.
The increase in Hong Kong dollar assets was due largely to the change in the market value of Hong Kong equities held by the Exchange Fund.
Figures in the Currency Board Account show that the Monetary Base at end-October was HK$199.1 billion, a reduction of HK$1.6 billion, or 0.81%, from end- September 1999. The decrease was primarily due to decreases in Certificates of Indebtedness and the Aggregate Balance.
The backing assets decreased by HK$1.1 billion, or 0.49%, from HK$222.2 billion to HK$221.1 billion. The more moderate decline in backing assets compared with that of the Monetary Base was largely due to net income and revaluation gains. As a result, the backing ratio increased from 110.67% at end-September to 111.03% at end-October.
Attachment
Annex 1 : Abridged Balance Sheet of the Exchange Fund
Annex 2 : Currency Board Account
Hong Kong Monetary Authority
29 November 1999
Annex 1
Annex 2
| © Copyright 1996-2006 irasia.com Ltd. All rights reserved. Tel: (852) 2831-9792. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |