1 Exchange Fund 1999 Results. 2 Exchange Fund (Group) End-1999End-1998Increase (HK$ bn)(HK$ bn)(%) Assets1,014.4921.410.1 Liabilities723.1679.16.5 Accumulated.

Slides:

Advertisements

Similar presentations

MONEY. MONETARY AGGREGATES M0 – base money (cash + deposits of the banks with the central bank) M1 – money, narrow money (cash + demand deposits) M2 –

Advertisements

Interest Rate Risk. Money Market Interest Rates in HK & US.

Chapter 2 - Understanding Financial Statements, Taxes, and Cash Flows  2005, Pearson Prentice Hall.

1. Bankwide Balance Sheet Highlight

Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill /Irwin Chapter One Introduction.

Exchange Fund Results Press Conference 18 January 2007.

Financial Management and Securities Markets Chapter 16 *modified by other sources.

Fin Dr. Menahem Rosenberg1 Financial Statement  The Balance Sheet  The Income Statement  The Statement of Cash Flows  Accounting for Differences.

Chapter 18 Changes in the Monetary Base. Central Bank Balance Sheets Main Liabilities of Federal Reserve 1.Currency 2.Deposits of Banks at Fed Main Assets.

Interest Rate Risk. Interest Rate Risk: Income Side Interest Rate Risk – The risk to an institution's income resulting from adverse movements in interest.

Hong Kong Monetary System HK’s Linked Exchange Rate System BY KWAN Kui Kwan KWAN Kui Kwan.

Financial Assets (Instruments)

McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

1 Understanding of Financial Statement 1. Balance Sheet 2. Income Statement 3. Statement of appropriation of retained earnings 4. Cash Flow Statement 5.

©2007, The McGraw-Hill Companies, All Rights Reserved Chapter One Introduction.

Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill /Irwin Chapter One Introduction.

HONG KONG MONETARY AUTHORITY Briefing to the Legislative Council Panel on Financial Affairs 8 November 2007.

1 Data Requirements For Assessing the Health of Systemically Important Financial Institutions (SIFIs) for IMF-FSB Users Conference Washington, D. C., July.

FINANCIAL SECTOR 2 Measuring Money and Money Creation.

Analysis and Interpretation of British Accounts Short-term Liquidity Measures.

AP Macroeconomics Unit 3 The Financial Sector Vocab: Ch. 31/32 Exam Dates: 3/27 and 3/28.

Chapter 4 Commercial Bank’s Sources and Uses of Funds

ALOMAR_212_4 1 Financial Market Instruments. ALOMAR_212_42 What are the securities (instruments) traded in the financial market? 1- Money Market Instruments:

Chapter 2 - Understanding Financial Statements, Taxes, and Cash Flows 09/02/08.

Chapter 7 Commercial bank financial statement Salwa Elshorafa 2009 © 2005 Pearson Education Canada Inc.

The Money Supply and the Banking System Outline: What counts as money? Measuring the money stock Financial intermediaries The typical bank balance sheet.

2008 Exchange Fund Results Press Conference 21 January 2009.

©2009, The McGraw-Hill Companies, All Rights Reserved Chapter One Introduction.

ALOMAR_212_31 Chapter 2 The Financial System. ALOMAR_212_32 Intermediaries, instruments, and regulations. Financial markets: bond and stock markets Financial.

Dr Marek Porzycki Chair for Economic Policy.  Markets in which funds are chanelled from savers/investors (people who have available funds but no productive.

HONG KONG MONETARY AUTHORITY Briefing to the Legislative Council Panel on Financial Affairs 2 February 2004.

HONG KONG MONETARY AUTHORITY Briefing to the Legislative Council Panel on Financial Affairs 19 February 2003.

Briefing to the Legislative Council Panel on Financial Affairs 3 May 2001 HONG KONG MONETARY AUTHORITY.

2009 Exchange Fund Results 28 January 2010 HONG KONG MONETARY AUTHORITY.

Briefing to the Legislative Council Panel on Financial Affairs 4 February 2002 HONG KONG MONETARY AUTHORITY.

2007 Exchange Fund Results Press Conference 21 January 2008.

Asset Structure Assets Cash on Hand and in Current Accounts 86 Deposits Maturing within one Month441 Balances with the Central Bank57 Government Debt Instruments412.9.

The Creation of Financial Assets

Exchange Fund Results Press Conference 20 January 2005.

Briefing to the Legislative Council Panel on Financial Affairs 11 January 2001 HONG KONG MONETARY AUTHORITY.

Finance 206 Evaluating a firm’s Financial Performance.

Exchange Fund Results Press Conference 17 January 2002.

Money Management in the Organizations 1- Accounting activities: Recording and analyzing monetary information 2- Financial activities: Fund (money) raising.

Chapter 10 Appendix The Fed’s Balance Sheet and the Monetary Base.

EXCHANGE FUND BALANCE SHEET (HK$ million)31 Dec Mar Sept Oct 2001 ASSETS Foreign currency assets856,680911,880901,312894,979 Hong.

McGraw-Hill/Irwin Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 12 Depository Institutions: Banks and Bank Management.

ECO 285 – Spring 2014 – Dr. D. Foster ECO 285 Money & Banking Basics II.

Money Ch.11. Money is used to pay for things How did this happen? Trading – currency Money is anything that is generally acceptable in purchasing goods.

LECTURE 5 Money and Banking. What is Money? Money is a good that is accepted as a medium of exchange in transactions. Other functions of money include:

1 Briefing to the Legislative Council Panel on Financial Affairs 2 May 2000 Hong Kong Monetary Authority.

Exchange Fund Position Press Conference 19 January 2006.

Introduction (5) Bank financial statements (1) Balance Sheet (B) Liabilities  Two major categories of liabilities are included in the balance sheet: (1)

Briefing to the Legislative Council Panel on Financial Affairs 5 November 2001 HONG KONG MONETARY AUTHORITY.

Exchange Fund Results Press Conference 15 January 2004.

An introduction to financial institutions, investments & Management

LIABILITIES AND EQUITIES

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

(5) Bank financial statements

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

MUTUAL FUND MARKET WATCH

Presentation transcript:

1 Exchange Fund 1999 Results

2 Exchange Fund (Group) End-1999End-1998Increase (HK$ bn)(HK$ bn)(%) Assets1, Liabilities Accumulated Surplus

3 Exchange Fund (Group) Increase (HK$ bn)(HK$ bn)(%) Income Expenditure Surplus (6.2) Accumulated surplus brought forward at end of previous year Accumulated surplus carried forward at end of current year

4 Exchange Fund (Group) Accumulated SurplusIncrease (HK$ bn)(%)

5 Exchange Fund (Group) Asset Mix End-1999End-1998(HK$ bn) Cash and short-term funds Fixed deposits Certificates of deposit Investments Mortgage loans Fixed assets Other assets Total1,

6 End-1999End-1998 Cash11.8%7.1% Bonds60.0%68.6% Equities26.2%22.0% Others2.0%2.3% Total100.0%100.0% HK$1,014.4 bnHK$921.4 bn Exchange Fund (Group) Instrument Mix

7 Exchange Fund (Group) Currency Mix End-1999End-1998 US Dollar59.0%61.8% HK Dollar25.2%23.9% European currencies11.1%11.3% Yen4.3%2.6% Others0.4%0.4% Total100.0%100.0% HK$1,014.4 bnHK$921.4 bn

8 Exchange Fund (Group) Liabilities End-1999End-1998(HK$ bn) Certificates of Indebtedness Coins in circulation Balance of the banking system Exchange Fund Bills and Notes Placements by other government funds Placements by other institutions Other liabilities Total

9 31 Dec Dec 1998(HK$ bn) MONETARY BASE Certificates of Indebtedness Coins in circulation Balance of the banking system Exchange Fund Bills and Notes issued Interest payable on Exchange Fund Notes Total (a) BACKING ASSETS Investment in designated US dollar assets Interest receivable on investment Total (b) BACKING RATIO [ (b) / (a) ] x 100%109.6%108.2% Exchange Fund Currency Board Account

10 Hong Kong Equities Portfolio HK$ Total outstanding at 31 Dec bn Long-term Investment Portfolio 50.0 bn Balance in Disposal Program at 31 Dec bn

11 Disposal of Hong Kong Equities HK$ Tracker Fund - IPO 33.3 bn - 4Q 1999 Tap3.3 bn* - 1Q 2000 Tap12.2 bn* - total disposed 48.8 bn Tracker Fund - 2Q 2000 Tap announced12.0 bn * Total proceeds from the TraHK units sold through the Taps.

12 Exchange Fund 2000 Investment Outlook: Very Difficult US equities: unprecedented highs US interest rates: poised to go higher Currencies: volatile Market liquidity: reduced from 1999 (particularly in bonds and currencies)