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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 (July 31) that the total assets of the Exchange Fund amounted to HK$3,316.0 billion as at June 30, 2015, HK$12.7 billion higher than that at the end of May 2015. Foreign currency assets decreased by HK$0.4 billion while Hong Kong dollar assets increased by HK$13.1 billion.

     The decline in foreign currency assets was mainly due to mark-to-market losses on foreign currency portfolios, which was largely offset by the proceeds from the issuance of US dollar-denominated sukuk under government bond programme. The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled, which was partly offset by withdrawals of placements by Fiscal Reserves and HKSAR government funds and statutory bodies as well as mark-to-market losses on Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of June 2015 was HK$1,424.2 billion, decreased by HK$0.5 billion, or 0.04%, from the end of May 2015. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

     The amount of Backing Assets decreased by HK$0.6 billion, or 0.04%, to HK$1,524.5 billion. The decrease was mainly attributable to a reduction in assets connected with the redemption of Certificates of Indebtedness. At the end of June 2015, the backing ratio remained unchanged at 107.04%.


     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 July 2015, the scheduled dates for issuing the press releases are as follows:

July 7 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)

July 14 (Issued)
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)

July 31
SDDS Template on International Reserves and Foreign Currency Liquidity

July 31
Exchange Fund Abridged Balance Sheet and Currency Board Account

Ends/Friday, July 31, 2015
Issued at HKT 16:38


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