Hong Kong – Increasing the issuance of Exchange Fund Bills

Increasing the issuance of Exchange Fund Bills

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

 

     The Hong Kong Monetary Authority (HKMA) announced today (December 13) a plan to suitably increase the issuance size of Exchange Fund Bills to meet the ongoing demand for Exchange Fund paper by banks amidst the abundance of liquidity in the banking system.

      

     The HKMA plans to increase the issuance size of 91-day Exchange Fund Bills by HK$5,000 million in each of the eight regular tenders on January 4, 11, 18, 25 and 31 and February 8, 15 and 22, 2022. If all the eight planned increases are executed, the issuance size of the Bills will be increased by HK$40,000 million in total.  The HKMA will continue to monitor market situations, and reserves the flexibility of adjusting or not executing the aforesaid eight increases.

      

     The increase in the supply of Exchange Fund Bills is consistent with Currency Board principles, since the additional issuance simply represents a change in the composition of the Monetary Base, with a shift from the Aggregate Balance to Exchange Fund paper.  The Aggregate Balance will decrease by the same amount as the increase in Exchange Fund Bills.  The Monetary Base remains fully backed by foreign exchange reserves.

      

     Following the established practice, information about the issuance size of the Exchange Fund Paper and changes in the Aggregate Balance will be updated and published regularly on the HKMA website and the dedicated pages on Refinitiv and Bloomberg.

      

     The updated tentative issuance schedule for Exchange Fund Bills and Notes is at Annex.

Controlling Increasing Pollution of Water In Yamuna


 The main reasons for pollution in water bodies including river Yamuna are discharges of untreated domestic and industrial flow as well as from solid waste ingress into the river. The pollution of River Yamuna is also caused during various festivals due to immersion of idols of Gods and Goddesses, puja material and other items of religious offering.


  An estimated sewage flow of 3270 MLD is being generated in Delhi against which Delhi Government is treating 2340 MLD sewage at 34 numbers of Sewage Treatment Plants (STPs) of 2624 MLD cumulative capacity with average utilization of 89%. In addition, Delhi is also treating 61.9 MLD industrial effluent against the installed 13 nos of common effluent treatment plants (CETPs) of 212.3 MLD capacity.


Presently, Government of India / National Mission for Clean Ganga (NMCG) has sanctioned 23 projects costing Rs. 4290 crore for one (01) project in Himachal Pradesh, two (02) projects in Haryana, Twelve (12) projects in Delhi and Eight (8) projects in Uttar Pradesh under Namami Gange programme to abate pollution load to river Yamuna. With these projects, 1840 MLD STP capacity will be created along with rehabilitation of 534 MLD STP. Out of these 23 projects, total five (05) projects have already been completed.


  National Mission for Clean Ganga (NMCG) and Central Pollution Control Board (CPCB) have issued guidelines, advisories and directions to Delhi and concerned States at different levels from time to time, besides reviewing the issue of pollution at various high level meetings.


NMCG issued directions vide letter no. F. No. l-64/7/2020/NMCG dated 15.09.2021 and 21.09.2021 to the State Govts./authorities in Ganga basin States and all other states respectively, inter-alia prohibiting immersion of such idols of Gods and Goddesses, puja material and other items of religious offering in water bodies like river, lakes, ponds, wells etc. during forthcoming festivals like Ganesh Chaturthi, Durga Puja, Deepawali (Lakshmi Puja/ Kali Puja), Chhath Puja (Surya Sasthi), Viswakarma Puja, etc., as these cause pollution/ contamination of water leading to the deterioration in the quality of water in rivers/ water bodies besides having harmful effect on aquatic life. 


Similarly, CPCB issued Guidelines for Idol Immersion on 12.05.2020 for ensuring its implementation by the Idol makers/ artisans, Puja organizing committees, SPCBs/PCCs as well as local and urban authorities. CPCB also issued show cause notice to Delhi Jal Board vide letter no A-14011/1/2015-MON/16476 dated 19/02/2019 under Section 5 of Environment Act, 1986 for non- compliance of STPs installed at Delhi.


NMCG also issued a direction u/s 5 of E(P)Act to Delhi Pollution Control Committee (DPCC) on 16.08.2018 for optimal utilization of CETPs infrastructure and reutilization of treated wastewater.


Apart from above, CPCB issued directions to DPCC, UPPCB, and HSPCB u/s 18 (b) of the Water (Prevention and Control of Pollution) Act, 1974 for prevention & control of pollution in river Yamuna.


This Information was given by the Minister of State for Jal Shakti, Shri Bishweswar Tudu in a written  reply in Rajya Sabha today.


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BY/AS




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