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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 (August 31) that the total assets of the Exchange Fund amounted to HK$3,912.2 billion as at July 31, 2017, HK$7.3 billion higher than that at the end of June 2017. Foreign currency assets increased by HK$20.1 billion while Hong Kong dollar assets decreased by HK$12.8 billion.

     The rise in foreign currency assets was mainly due to the purchase of foreign currencies with Hong Kong dollars and mark-to-market gains on foreign currency portfolios, which were partly offset by a decrease in unsettled purchases of securities. The decline in Hong Kong dollar assets was mainly due to sale of Hong Kong dollars for foreign currencies and withdrawals of placements by Fiscal Reserves, which were partly offset by the increase in market value of Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of July 2017 was HK$1,664.6 billion, increased by HK$1.2 billion, or 0.1%, from the end of June 2017. The rise was mainly due to the increase in the outstanding amount of Certificates of Indebtedness.

     The amount of Backing Assets increased by HK$4.3 billion, or 0.2%, to HK$1,795.4 billion. The increase was mainly attributable to the issuance of Certificates of Indebtedness, valuation gains and interest from investments. The backing ratio increased from 107.68% at the end of June 2017 to 107.86% at the end of July 2017.

     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 August 2017, the scheduled dates for issuing the press releases are as follows:
August 7

SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
August 14

SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
August 31

SDDS Template on International Reserves and Foreign Currency Liquidity
August 31

Exchange Fund Abridged Balance Sheet and Currency Board Account
Ends/Thursday, August 31, 2017
Issued at HKT 16:30
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