•
CONFIDENTIAL
- 49
Minimum
Hong Kong
dollar
asset level
3.
Foreign currency assets should be maintained
at a level of 15% or more of annual imports, providing the purchase of foreign currency to
maintain this level is consistent with the use of
the Fund to regulate the exchange value of the Hong
Kong dollar and providing account is taken of the
need to retain sufficient Hong Kong dollars to meet foreseeable demand for the redemption of debt
certificates issued to the Treasury.
Asset
4.
maturity
The Fund should be invested so as to
produce the following range of maturities:
spread and
% of Fund
final maturity
(a)
date
cash, notice and call deposits, and marketable obligations
maturing within 6 months:
45%
(b)
assets other than those
described in sub-paragraph
(a) of this paragraph
maturing within 5 years:
25%
(c)
assets other than those
described in sub-paragraphs
(a) and (b) of this
paragraph, but not having
a maturity exceeding 10 years
from the date of purchase to
the date of redemption except
for gilt-edged obligations
of which up to 25% of the
nominal value may be invested beyond 10 years:
CONFIDENTIAL
30%