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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (May 31) that the total assets of the Exchange Fund amounted to HK$2,446.7 billion as at April 30, 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 April 2011 the total assets of the Exchange Fund, at HK$2,446.7 billion, were HK$38.5 billion higher than at the end of March 2011. Foreign currency assets increased by HK$34.9 billion and Hong Kong dollar assets increased by HK$3.6 billion.
The rise in foreign currency assets was mainly due to valuation gains on foreign currency investments and an increase 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.
The Currency Board Account shows that the Monetary Base at the end of April 2011 was HK$1,055.1 billion, an increase of HK$7.3 billion, or 0.70%, from the end of March 2011. The rise was mainly due to an increase in Certificates of Indebtedness.
The Backing Assets increased by HK$7.7 billion, or 0.69%, to HK$1,137.6 billion. The increase was mainly attributable to the issuance of Certificates of Indebtedness and interest from investments. At the end of April 2011, the backing ratio stood at 107.82%, compared with 107.83% at the end of March 2011.
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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 May 2011, the scheduled dates for issuing the press releases are as follows:
May 9 SDDS International Reserves
(Issued) (Hong Kong's Latest Foreign Currency
Reserve Assets Figures)
May 13 SDDS Analytical Accounts of the Central
(Issued) Bank
(Analytical Accounts of the Exchange
Fund)
May 31 Exchange Fund Abridged Balance Sheet and
Currency Board Account
May 31 SDDS Template on International Reserves
and Foreign Currency Liquidity
Ends/Tuesday, May 31, 2011
Issued at HKT 16:31
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