HKMA Reports Increase in Exchange Fund Foreign Assets in May 2024

Foreign
Assets
Surge

The
Hong
Kong
Monetary
Authority
(HKMA)
has
announced
a
significant
increase
in
the
foreign
assets
of
the
Exchange
Fund
by
the
end
of
May
2024.
According
to
the
HKMA,
the
foreign
assets,
which
represent
the
external
assets
of
the
Exchange
Fund,
rose
by
HK$7.8
billion,
reaching
a
total
of
HK$3,468.0
billion.

Breakdown
of
the
Monetary
Base

The
Monetary
Base,
which
includes
Certificates
of
Indebtedness,
Government-issued
currency
notes
and
coins
in
circulation,
the
banking
system’s
balance,
and
Exchange
Fund
Bills
and
Notes
issued,
was
reported
at
HK$1,919.0
billion.
This
comprehensive
monetary
base
is
a
critical
component
of
the
financial
stability
and
liquidity
in
Hong
Kong.

Private
Sector
Claims
and
Liabilities

In
addition
to
the
foreign
assets,
the
HKMA
reported
that
claims
on
the
private
sector
in
Hong
Kong
amounted
to
HK$294.2
billion.
Meanwhile,
foreign
liabilities
were
reported
at
HK$22.4
billion.
These
figures
provide
insights
into
the
financial
interactions
and
obligations
within
and
outside
Hong
Kong.

Adherence
to
International
Standards

The
analytical
accounts
of
the
Exchange
Fund
are
published
following
the
International
Monetary
Fund’s
Special
Data
Dissemination
Standard
(SDDS).
These
accounts
are
also
known
as
the
Analytical
Accounts
of
the
Central
Bank
under
the
SDDS
framework.
The
transparency
in
reporting
aligns
with
international
best
practices
and
aims
to
provide
clear
and
accurate
financial
data
to
the
public.

Scheduled
Press
Releases

The
HKMA
maintains
a
consistent
schedule
for
releasing
data
related
to
the
Exchange
Fund.
For
June
2024,
the
HKMA
has
outlined
the
following
dates
for
press
releases:

These
regular
updates
are
part
of
the
HKMA’s
policy
to
maintain
a
high
level
of
transparency
and
provide
timely
financial
information
to
stakeholders.

For
more
detailed
information,
the
full
report
by
the
Hong
Kong
Monetary
Authority
can
be
accessed

here.

Image
source:
Shutterstock