CONFIDENTIAL
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49
Minimum
3.
Hong Kong
at
a
dollar
asset level
Foreign currency assets
-
level of
providing
the
should be maintained
of 15% or more of annual imports,
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 placement
receipts issued to the Treasury.
6.
Asset
maturity
spread
(a)
The Fund should be
following range of maturities:
cash, bank deposits,
and investments
maturing within
6 months.
invested within the
LIMITS
Not less than 25%
of the funds
directly managed
by the Office of the
Exchange Fund. No
limit for funds
under management
by discretionary
managers.
(b)
investments with a
maturity exceeding 5 years but not
exceeding 10 years.
Not more than 10%
of the funds
directly managed by
the Office of the
Exchange Fund. No
limit for funds
under management
by discretionary
managers.
CONFIDENTIAL