Exchange Fund Abridged Balance Sheet and Currency Board Account
The Hong Kong Monetary Authority (HKMA) announced today (29 November)
that the total assets of the Exchange Fund amounted to HK$4,015.
0 billion as at 31 October 2024, HK$118. 8 billion lower than that at
the end of September 2024. Hong Kong dollar assets decreased by
HK$105. 0 billion and foreign currency assets decreased by HK$13. 8
billion.
The decline in Hong Kong dollar assets was mainly
due to the decrease in Exchange Fund Bills and Notes issued but not
yet settled at month end. The decline in foreign currency assets was
mainly due to mark-to-market revaluation of investments, which was
partly offset by interest income from investments and purchase of
foreign currencies with Hong Kong dollars.
The Currency Board
Account shows that the Monetary Base at the end of October 2024 was
HK$1,937. 7 billion, decreased by HK$3. 7 billion, or 0. 2%, from the
end of September 2024. The decline was mainly due to the decrease in
the outstanding amount of Certificates of Indebtedness, which was
partly offset by amortisation of discount on Exchange Fund Bills and
Notes issued.
The amount of Backing Assets decreased by HK$7.
7 billion, or 0. 4%, to HK$2,121. 7 billion at the end of October
2024. The decrease was mainly attributable to mark-to-market
revaluation of investments and the redemption of Certificates of
Indebtedness, which were partly offset by interest income from
investments. The Backing Ratio decreased from 109. 68% at the end of
September 2024 to 109. 50% at the end of October 2024.
Annex
1: Abridged Balance Sheet of the Exchange Fund Annex 2: Currency Board
Account
Hong Kong Monetary Authority 29 November 2024
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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 November 2024, the scheduled dates for issuing the press
releases are as follows: 7 November (Issued) SDDS International
Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
14 November (Issued) SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund) 29 November SDDS Template
on International Reserves and Foreign Currency Liquidity 29 November
Exchange Fund Abridged Balance Sheet and Currency Board Account