Author Archives: hksar gov

Exchange Fund Abridged Balance Sheet and Currency Board Account

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (October 30) that the total assets of the Exchange Fund amounted to HK$4,308.4 billion as at September 30, 2026, HK$27.0 billion lower than that at the end of August 2026. Foreign currency assets decreased by HK$19.4 billion and Hong Kong dollar assets decreased by HK$7.6 billion.

     The decline in foreign currency assets was mainly due to mark-to-market revaluation of investments. The decline in Hong Kong dollar assets was mainly due to mark-to-market revaluation of Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of September 2026 was HK$2,090.2 billion, grew by HK$10.0 billion, or 0.5 per cent from the end of August 2026. The growth was mainly due to the increase in the outstanding amount of Certificates of Indebtedness and the amortisation of discount on Exchange Fund Bills and Notes issued.

     The amount of Backing Assets increased by HK$4.1 billion, or 0.2 per cent, to HK$2,334.0 billion at the end of September 2026. The increase was mainly attributable to interest income from investments and the issuance of Certificates of Indebtedness, which were partly offset by mark-to-market revaluation of investments. The Backing Ratio decreased from 112.00 per cent at the end of August 2026 to 111.66 per cent at the end of September 2026.

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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of October 2026, the scheduled dates for issuing the press releases are as follows:
 

October 7
 (Issued)		 SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
October 14
 (Issued)		 SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
October 30 SDDS Template on International Reserves and
Foreign Currency Liquidity
October 30 Exchange Fund Abridged Balance Sheet and
Currency Board Account
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East Asia

48 landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements

     Forty-eight landlords of subdivided units (SDUs), who contravened Part IVA of the Landlord and Tenant (Consolidation) Ordinance (Cap. 7) (the Ordinance), pleaded guilty and were fined between $800 and $19,200, amounting to a total of $152,830, on October 2, October 9, October 16 and today (October 30) at the Eastern Magistrates’ Courts. Since the Ordinance came into force, the Rating and Valuation Department (RVD) has continuously strengthened enforcement actions and has prosecuted a total of 1 628 cases to date. Among the 1 444 cases dealt with by the court, all were successfully convicted, which involved a total of 1 263 SDU landlords, amounting to a total of $4,034,540 in fines. In addition, 184 cases are pending a hearing.
      
     The offences of these 48 landlords include (1) failing to submit a Notice of Tenancy (Form AR2) to the Commissioner of Rating and Valuation within 60 days after the term of the regulated tenancy commenced; (2) failing to produce copies of the bills and provide an account in writing when requiring the tenant to pay for the reimbursement of the apportioned water and/or electricity charges; (3) failing to provide the tenant with a rent receipt; and (4) requesting the tenant to pay money other than the types permitted under the Ordinance (including requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance).

     The RVD earlier discovered that the landlords failed to comply with the relevant requirements under the Ordinance. Upon a comprehensive investigation and evidence collection, the RVD prosecuted the landlords.
 
     A spokesman for the RVD reiterated that SDU landlords must comply with the relevant requirements under the Ordinance, including prohibiting landlords from doing any act calculated to interfere with the peace or comfort of members of the tenant’s household, with the intention of causing the tenant to give up occupation of the SDU; or requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance, and also reminded  tenants of their rights under the Ordinance, including a four-year (i.e. two years plus two years) security of tenure. He also stressed that the RVD will continue to take resolute enforcement action against any contraventions of the Ordinance. Apart from following up on reported cases, the RVD has been adopting a multipronged approach to proactively identify, investigate and follow up on cases concerning landlords who are suspected of contravening the Ordinance. In particular, the RVD has been requiring landlords of regulated tenancies to provide information and reference documents of their tenancies for checking whether they have complied with the requirements of the Ordinance. If a landlord, without reasonable excuse, refuses to provide the relevant information or neglects the RVD’s request, the landlord commits an offence and is liable to a maximum fine at level 3 ($10,000) and to imprisonment for three months. Depending on the actual circumstances, and having regard to the information and evidence collected, the RVD will take appropriate actions on individual cases, including instigating prosecution against suspected contraventions of the Ordinance.

     To help curb illegal acts as soon as possible, members of the public should report to the RVD promptly any suspected cases of contravening the relevant requirements. Reporting can be made through the telephone hotline (2150 8303), by email (enquiries@rvd.gov.hk), by fax (2116 4920), by post (15/F, Cheung Sha Wan Government Offices, 303 Cheung Sha Wan Road, Kowloon), or in person (visiting the Tenancy Services Section office of the RVD at 7/F, South Tower, Tseung Kwan O Government Offices, 30 Tong Yin Street, Tseung Kwan O, New Territories, and please call 2150 8303 to make an appointment). Furthermore, the RVD has provided a form (Form AR4) (www.rvd.gov.hk/doc/en/forms/ar4.pdf) on its website to enable SDU tenants’ reporting to the RVD.
 
     The RVD reminds that pursuant to the Ordinance, a regulated cycle of regulated tenancies is to comprise two consecutive regulated tenancies (i.e. the first-term tenancy and second-term tenancy) for an SDU, and the term of each regulated tenancy is two years. A tenant of a first-term tenancy for an SDU is entitled to be granted a second-term tenancy of the regulated cycle, thus enjoying a total of four years of security of tenure. The RVD has been issuing letters enclosing relevant information to the landlords and tenants concerned of regulated tenancies in batches, according to the expiry time of their first-term tenancies, to assist them in understanding the important matters pertaining to the second-term tenancy, and to remind them about the procedures that need to be followed about two months prior to the commencement of the purported second-term tenancy as well as their respective obligations and rights under the Ordinance. These landlords and tenants may also visit the dedicated page for the second-term tenancy on the RVD’s website (www.rvd.gov.hk/en/tenancy_matters/second_term_tenancy.html) for the relevant information, including a concise guide, brochures, tutorial videos and frequently asked questions. The landlords and tenants concerned are also advised to familiarise themselves with the relevant statutory requirements and maintain close communication regarding the second-term tenancy for handling the matters properly and in a timely manner according to the Ordinance.
 
     For enquiries related to regulated tenancies, please call the telephone hotline (2150 8303) or visit the RVD’s webpage (www.rvd.gov.hk/en/our_services/part_iva.html) for the relevant information. read more

East Asia