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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (April 29) that the total assets of the Exchange Fund amounted to HK$3,504.9 billion as at March 31, 2016, HK$25.1 billion higher than that at the end of February 2016. Foreign currency assets increased by HK$27.6 billion while Hong Kong dollar assets decreased by HK$2.5 billion.
The rise in foreign currency assets was mainly due to the mark-to-market gains on foreign currency portfolios, which was partly offset by the redemption of Certificates of Indebtedness. The decline in Hong Kong dollar assets was mainly due to withdrawals of placements by Fiscal Reserves, which was partly offset by the increase in market value of Hong Kong equities and additional placements from Hong Kong Special Administrative Region government funds and statutory bodies.
The Currency Board Account shows that the Monetary Base at the end of March 2016 was HK$1,603.1 billion, decreased by HK$3.1 billion, or 0.2%, from the end of February 2016. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets decreased by HK$6.0 billion, or 0.3%, to HK$1,711.9 billion. The decrease was mainly attributable to the redemption of Certificates of Indebtedness and the decline in the exchange rate of US dollar against Hong Kong dollar. The backing ratio decreased from 106.95% at the end of February 2016 to 106.78% at the end of March 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 April 2016, the scheduled dates for issuing the press releases are as follows:
April 7 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
April 14 (Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
April 29
SDDS Template on International Reserves and Foreign Currency Liquidity
April 29
Exchange Fund Abridged Balance Sheet and Currency Board Account
Ends/Friday, April 29, 2016
Issued at HKT 16:34
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