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Exchange Fund Abridged Balance Sheet and Currency Board Account

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (September 30) that the total assets of the Exchange Fund amounted to HK$2,858.4 billion as at August 31, 2013, HK$26.1 billion lower than that at the end of July 2013. Foreign currency assets decreased by HK$15.1 billion and Hong Kong dollar assets decreased by HK$11.0 billion.

     The decline in foreign currency assets was mainly due to valuation losses on foreign currency investments. The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns, which were partly offset by additional placements received from HKSAR government funds and statutory bodies.

     The Currency Board Account shows that the Monetary Base at the end of August 2013 was HK$1,238.5 billion, increased by HK$6.0 billion, or 0.5%, from the end of July 2013.  The rise was due to an increase in the outstanding amount of Certificates of Indebtedness.

     The amount of Backing Assets increased by HK$4.3 billion, or 0.3%, to HK$1,331.3 billion. The rise was attributable to an increase in assets connected with the issuance of additional Certificates of Indebtedness, which was partly offset by revaluation losses. The backing ratio decreased from 107.67% at the end of July 2013 to 107.50% at the end of August 2013.


     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 September 2013, the scheduled dates for issuing the press releases are as follows:

September 6 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)

September 13 (Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)

September 30
Exchange Fund Abridged Balance Sheet and Currency Board Account

September 30
SDDS Template on International Reserves and Foreign Currency Liquidity

Ends/Monday, September 30, 2013
Issued at HKT 16:30


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