ENG-2008 — Page 139

Financial and Monetary Affairs 95

demonstrate the Government's continued commitment to greater openness and transparency. In addition, an abridged balance sheet of the Exchange Fund and a set of Currency Board accounts are published monthly.

Another function related to the Exchange Fund is currency issuance. Bank notes. in denominations of $20, $50, $100, $500 and $1,000 are issued by the three note- issuing banks: Standard Chartered Bank (Hong Kong) Limited, the Hongkong and Shanghai Banking Corporation Limited and Bank of China (Hong Kong) Limited. The note-issuing banks may issue currency notes only by surrendering non-interest- bearing US dollar backing at a fixed exchange rate of $7.80. Thus the fund enjoys the seigniorage from the notes.

Through the HKMA, the Government issues $10 currency notes and coins of $10, $5, $2, $1, 50 cents, 20 cents and 10 cents denominations. The Hong Kong $10 polymer note was put into circulation in July 2007. The HKMA, which has been examining alternative technologies for the production of currency notes, issued the note to assess the performance and acceptability of polymer notes in Hong Kong. The value of all notes and coins in circulation at year-end was $185.3 billion.

Websites

Financial Services and the Treasury Bureau: www.fstb.gov.hk Office of the Commissioner of Insurance: www.oci.gov.hk Official Receiver's Office: www.oro.gov.hk

Companies Registry: www.cr.gov.hk

Hong Kong Monetary Authority: www.hkma.gov.hk Securities and Futures Commission: www.sfc.hk

SFC Investor Education Portal: www.invested.hk

Mandatory Provident Fund Schemes Authority: www.mpfa.org.hk Hong Kong Exchanges and Clearing Limited: www.hkex.com.hk Financial Reporting Council: www.frc.org.hk