The total assets of the Exchange Fund amounted to HK$4,177.8 billion
as of Feb 29 – HK$16.2 billion lower than that at the end of the previous
month – the Hong Kong Monetary Authority said on Tuesday.
The decline in Hong Kong dollar assets was mainly due to a fall in bank borrowings and withdrawals of placements by fiscal reserves, government funds and statutory bodies
Hong Kong dollar assets decreased by HK$32.9 billion, while
foreign currency assets rose by HK$16.7 billion.
The decline in Hong Kong dollar assets was mainly due to a fall in
bank borrowings and withdrawals of placements by fiscal reserves, government
funds and statutory bodies. The rise in foreign currency assets was mainly due
to an increase in unsettled purchases of securities.
The Currency Board Account shows the monetary base at the end of
February stood at HK$1,686.6 billion – down by HK$2.1 billion, or 0.1 percent,
from the end of January. The decline was mainly due to a decrease in the
outstanding amount of certificates of indebtedness.
Separately, the government said there was a deficit of HK$5.9
billion in February. Expenditure for the 11 months ended Feb 29 reached
HK$535.1 billion and revenue HK$548 billion, with the cumulative year-to-date
surplus at HK$19.2 billion after receipt of net proceeds of HK$7.8 billion from
the issuance of green bonds under the Government Green Bond Program and
repayment of institutional notes of HK$1.5 billion.
Fiscal reserves stood at HK$1,190.1 billion as of Feb 29.
