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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (November 30) that the total assets of the Exchange Fund amounted to HK$2,457.2 billion as at October 31, 2011.
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 October 2011, the total assets of the Exchange Fund, at HK$2,457.2 billion, were HK$41.6 billion higher than at the end of September 2011. Foreign currency assets increased by HK$25.2 billion and Hong Kong dollar assets increased by HK$16.4 billion.
The rise in foreign currency assets was mainly due to valuation gains on foreign currency investments and purchases of foreign currencies with Hong Kong dollars. These increases were partly offset by a decrease in Certificates of Indebtedness. The rise in Hong Kong dollar assets was mainly due to valuation gains on Hong Kong equities and placements received from fiscal reserves. These increases were partly offset by sales of Hong Kong dollars for foreign currencies.
The Currency Board Account shows that the Monetary Base at the end of October 2011 was HK$1,058.7 billion, a decrease of HK$3.1 billion, or 0.3%, from the end of September 2011. The decline was mainly due to a decrease in Certificates of Indebtedness.
The Backing Assets decreased by HK$7.1 billion, or 0.6%, to HK$1,150.7 billion. The decrease was mainly attributable to the redemption of Certificates of Indebtedness and revaluation losses which were partly offset by interest from investments. The backing ratio decreased from 109.04% at the end of September 2011 to 108.69% at the end of October 2011.
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At present, four press releases relating to the Exchange Funds 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 November 2011, the scheduled dates for issuing the press releases are as follows:
November 7 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
November 14 (Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
November 30
Exchange Fund Abridged Balance Sheet and Currency Board Account
November 30
SDDS Template on International Reserves and Foreign Currency Liquidity
Ends/Wednesday, November 30, 2011
Issued at HKT 16:42
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