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The Hong Kong Monetary Authority (HKMA) released today (June 16) key data on the balance sheet of the Exchange Fund at the end of May 2003, reporting an increase of HK$19.2 billion in the foreign assets of the Exchange Fund during the month.

Foreign assets, representing the external assets of the Exchange Fund, amounted to HK$857.5 billion.

The Monetary Base, comprising Certificates of Indebtedness, Government-issued currency notes and coins in circulation, the Aggregate Balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$252.7 billion.

Claims on the private sector in Hong Kong amounted to HK$52.0 billion.

Foreign liabilities, representing mainly obligations under repurchase agreements, amounted to HK$4.7 billion.

The balance sheet data of the Exchange Fund are released in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex which is on the HKMA website http://www.hkma.gov.hk).

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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 June, the scheduled dates for issuing the press releases are as follows:

June 9 SDDS International Reserves (Hong Kong's

(Issued) Latest Foreign Currency Reserve Assets Figures)

June 16 SDDS Analytical Accounts of the Central Bank

(Exchange Fund Balance Sheet Data)

June 27 Exchange Fund Abridged Balance Sheet and

Currency Board Account

June 30 SDDS Template on International Reserves and

Foreign Currency Liquidity

For further enquiries, please contact:

Sylvia Yip, Manager (Press), at 2878 1687 or

Thomas Chan, Senior Manager (Press), at 2878 1480

End/Monday, June 16, 2003

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