Exchange Fund Abridged Balance Sheet and Currency Board Account

On April 30, 2025, the Hong Kong Monetary Authority ("HKMA") reported that the Exchange Fund’s total assets amounted to HK$3,973.2 billion, a decrease of HK$5.7 billion from the previous month. The shift in asset composition was driven by a decline in foreign currency assets, which reduced by HK$21.1 billion, partially due to withdrawals from Fiscal Reserves placements. Conversely, Hong Kong dollar assets increased by HK$15.4 billion, largely attributed to placements with banks, partially offset by revaluation of Hong Kong equities. The Currency Board Account indicated a rise in the Monetary Base to HK$1,982.8 billion, up by HK$5.6 billion from March 2025, primarily due to the amortisation of discount on Exchange Fund Bills and Notes and an increase in Certificates of Indebtedness. The Backing Assets increased by HK$7.7 billion to HK$2,193.4 billion, with interest income from investments and issuance of Certificates of Indebtedness contributing to the rise, partly offset by investment revaluation. The Backing Ratio improved from 110.55% in March 2025 to 110.62% in April 2025. HKMA schedules four monthly press releases related to the Exchange Fund’s data, three of which adhere to the International Monetary Fund’s Special Data Dissemination Standard ("SDDS") and one focuses on transparency. The dates for the May 2025 releases are as follows:

- 8 May: International Reserves SDDS Release

- 14 May: Central Bank Analytical Accounts SDDS Release

- 30 May: International Reserves Template and Exchange Fund Abridged Balance Sheet and Currency Board Account