Exchange Fund Abridged Balance Sheet and Currency Board Account
The decline in foreign currency assets was mainly due to the sale of US dollars under the Currency Board arrangements. 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 October 2022 was HK$1,902.3 billion, decreased by HK$29.3 billion, or 1.5%, from the end of September 2022. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements and a decrease in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets decreased by HK$31.1 billion, or 1.5%, to HK$2,097.8 billion. 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 110.21% at the end of September 2022 to 110.27% at the end of October 2022.
Annex 1: Abridged Balance Sheet of the Exchange Fund
Annex 2: Currency Board Account
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