Exchange Fund Abridged Balance Sheet and Currency Board Account
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (March 31) that the total assets of the Exchange Fund amounted to HK$4,157.7 billion as at February 28, 2023, HK$90.9 billion lower than that at the end of January 2023. Foreign currency assets decreased by HK$77.2 billion and Hong Kong dollar assets decreased by HK$13.7 billion.
 
     The decline in foreign currency assets was mainly due to the mark-to-market revaluation on investments, the sale of US dollars under the Currency Board arrangements and the reduction in the month-end balances of unsettled purchase of securities. The decline in Hong Kong dollar assets was mainly due to the mark-to-market revaluation on Hong Kong equities. 
 
     The Currency Board Account shows that the Monetary Base at the end of February 2023 was HK$1,896.8 billion, decreased by HK$30.4 billion, or 1.6 per cent, from the end of January 2023. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements and decreases in the outstanding amount of Certificates of Indebtedness.
 
     The amount of Backing Assets decreased by HK$32.2 billion, or 1.5 per cent, to HK$2,106.5 billion at the end of February 2023. 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 110.98 per cent at the end of January 2023 to 111.05 per cent at the end of February 2023.
 
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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 March 2023, the scheduled dates for issuing the press releases are as follows:
 
March 7
Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
March 14
(Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
March 31 SDDS Template on International Reserves and
Foreign Currency Liquidity
March 31 Exchange Fund Abridged Balance Sheet and
Currency Board Account

Ends/Friday, March 31, 2023
Issued at HKT 16:30

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