Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (June 30) that the total assets of the Exchange Fund amounted to HK$4,437.5 billion as at May 31, 2022, HK$27.1 billion higher than that at the end of April 2022. Hong Kong dollar assets increased by HK$101.0 billion while foreign currency assets decreased by HK$73.9 billion.
The rise in Hong Kong dollar assets was mainly due to the month-end balance of Exchange Fund Bills and Notes issued but not yet settled and the increase in placements with banks. The decline in foreign currency assets was mainly due to the sale of US dollars under the Currency Board arrangements, the withdrawals of Fiscal Reserves placements, and a reduction in the month-end balances of unsettled purchase of securities.
The Currency Board Account shows that the Monetary Base at the end of May 2022 was HK$2,128.1 billion, decreased by HK$24.9 billion, or 1.2%, from the end of April 2022. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements and a decrease in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets decreased by HK$21.2 billion, or 0.9%, to HK$2,337.5 billion. The decrease was mainly attributable to the sale of US dollars under the Currency Board arrangements and the redemption of Certificates of Indebtedness. The backing ratio increased from 109.55% at the end of April 2022 to 109.84% at the end of May 2022.
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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 June 2022, the scheduled dates for issuing the press releases are as follows:
| June 7 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| June 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| June 30 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| June 30 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Thursday, June 30, 2022
Issued at HKT 16:30
Issued at HKT 16:30
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