Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (September 30) that the total assets of the Exchange Fund amounted to HK$4,160.7 billion as at August 31, 2020, HK$4.6 billion higher than that at the end of July 2020. Hong Kong dollar assets increased by HK$6.3 billion while foreign currency assets decreased by HK$1.7 billion.
The rise in Hong Kong dollar assets was mainly due to the mark-to-market revaluation on Hong Kong equities. The decline in foreign currency assets was mainly due to the reduction in Fiscal Reserves placements, which was partly offset by the mark-to-market revaluation on foreign currency investments and the increase of Monetary Base.
The Currency Board Account shows that the Monetary Base at the end of August 2020 was HK$1,818.7 billion, increased by HK$17.4 billion, or 1.0 per cent, from the end of July 2020. The rise was mainly due to the sale of HK dollars under the Currency Board arrangements and the issuance of Certificates of Indebtedness.
The amount of Backing Assets increased by HK$17.4 billion, or 0.9 per cent, to HK$2,024.4 billion. The increase was mainly attributable to the purchase of US dollars under the Currency Board arrangements and the issuance of Certificates of Indebtedness. The backing ratio decreased from 111.42 per cent at the end of July 2020 to 111.31 per cent at the end of August 2020.
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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 September 2020, the scheduled dates for issuing the press releases are as follows:
| September 7 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| September 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| September 30 |
SDDS Template on International Reserves and Foreign Currency Liquidity |
| September 30 |
Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Wednesday, September 30, 2020
Issued at HKT 16:30
Issued at HKT 16:30
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