Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (April 28) that the total assets of the Exchange Fund amounted to HK$4,077.1 billion as at March 31, 2023, HK$80.6 billion lower than that at the end of February 2023. Hong Kong dollar assets decreased by HK$64.6 billion and foreign currency assets decreased by HK$16.0 billion.
The decline in Hong Kong dollar assets was mainly due to the reduction in the month-end balances of Exchange Fund Bills and Notes issued but not yet settled, which was partly offset by the mark-to-market revaluation on Hong Kong equities. The decline in foreign currency assets was mainly due to the withdrawals of Fiscal Reserves placements, which was partly offset by the mark-to-market revaluation on investments.
The Currency Board Account shows that the Monetary Base at the end of March 2023 was HK$1,903.8 billion, increased by HK$7.0 billion, or 0.4 per cent, from the end of February 2023. The rise was mainly due to increases in the market value of Exchange Fund Bills and Notes outstanding and the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets increased by HK$23.2 billion, or 1.1 per cent, to HK$2,129.6 billion at the end of March 2023. The increase was mainly attributable to the mark-to-market revaluation on investments and the interest from investments. The backing ratio increased from 111.05 per cent at the end of February 2023 to 111.86 per cent at the end of March 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 April 2023, the scheduled dates for issuing the press releases are as follows:
| April 11 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| April 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| April 28 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| April 28 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Friday, April 28, 2023
Issued at HKT 16:30
Issued at HKT 16:30
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