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- 37 - - 10 - 25 %u8ca1%u52d9%u98a8%u96aa%u7ba1%u7406(%u7e8c) 25 FINANCIAL RISK MANAGEMENT (Continued)(b) %u5e02%u5834%u53ca%u4fe1%u8cb8%u98a8%u96aa(%u7e8c) (b) Market and credit risks (Continued)(v) %u4fe1%u8cb8%u98a8%u96aa (v) Credit risk%u623f%u59d4%u6703%u5728%u5831%u544a%u65e5%u671f%u7684%u6700%u9ad8%u4fe1%u8cb8%u98a8%u96aa(%u672a%u8a08%u53ca%u4efb%u4f55%u6240%u6301%u6709%u7684%u62b5%u62bc%u54c1%u6216%u5176%u4ed6%u6539%u5584%u4fe1%u8cb8%u8cea%u7d20%u9805%u76ee)%u5217%u8f09%u5982%u4e0b%uff1aThe Authority%u2019s maximum exposure to credit risk at the reporting date without taking into account any collateral held or other credit enhancements is shown belo2024 2023%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u5916%u532f%u57fa%u91d1%u5b58%u6b3e Placements with the Exchange Fund 40,283 38,846%u9280%u884c%u7d50%u9918 Bank balances 379 419%u9280%u884c%u5b58%u6b3e Bank deposits 22,022 14,509%u61c9%u5f9e%u653f%u5e9c%u6536%u56de%u7684%u6b3e%u9805 Amount due from theGovernment 40 64%u61c9%u6536%u5e33%u9805%u548c%u6309%u91d1 Debtors and deposits 1,411 1,194%u81ea%u7f6e%u5c45%u6240%uff0f Home Purchase/%u7f6e%u696d%u8cc7%u52a9%u8cb8%u6b3e Home Assistance Loans - 2%u6309%u63ed%u9084%u6b3e%u4fdd%u8b49 Mortgage defaultguarantees 112,021 86,708176,156 141,742%u5916%u532f%u57fa%u91d1%u5b58%u6b3e%u53ca%u61c9%u5f9e%u653f%u5e9c%u6536%u56de%u7684%u6b3e%u9805%u7684%u76f8%u95dc%u4fe1%u8cb8%u98a8%u96aa%uff0c%u5747%u5c6c%u504f%u4f4e%u3002%u5c31%u623f%u59d4%u6703%u7684%u6295%u8cc7%u7684%u4fe1%u8cb8%u98a8%u96aa%u800c%u8a00%uff0c%u623f%u59d4%u6703%u7684%u6295%u8cc7%u6307%u5f15%u5c0d%u4fe1%u8cb8%u8a55%u7d1a%u3001%u500b%u5225%u4ea4%u6613%u5c0d%u624b%u98a8%u96aa%u548c%u6574%u9ad4%u98a8%u96aa%u96c6%u4e2d%u60c5%u6cc1%u5747%u6709%u9650%u5236%u3002%u6309%u7a46%u8fea%u6216%u540c%u7b49%u6a5f%u69cb%u6307%u5b9a%u7684%u8a55%u7d1a%uff0c%u623f%u59d4%u6703%u7684%u9280%u884c%u7d50%u9918%u548c%u9280%u884c%u5b58%u6b3e%u7684%u4fe1%u8cb8%u8cea%u7d20%u5206%u6790%u5982%u4e0b%uff1aThe credit risk associated with the placements with the Exchange Fund and amount due from the Government is considered to be low.With respect to the credit risk of the Authority%u2019s investments, the Authority%u2019s investment guidelines set limits on credit rating, individual counterparty exposure and overall concentration of exposure.An analysis of the credit quality of the Authority%u2019s bank balances and bank deposits, based on ratings designated by Moody%u2019s or their equivalents, is as follows:2024 2023%u767e%u842c%u5143(%u6e2f%u5e63)HK$M%u767e%u842c%u5143(%u6e2f%u5e63)HK$MAa3 %u81f3 Aa1 Aa3 to Aa1 3,717 4,061A3 %u81f3 A1 A3 to A1 18,677 10,867A3 %u4ee5%u4e0b Lower than A3 7 -22,401 14,928%u61c9%u6536%u5e33%u9805%u548c%u6309%u91d1%u4e3b%u8981%u5305%u62ec%u61c9%u6536%u5e33%u9805%u3001%u61c9%u6536%u5229%u606f%u3001%u672a%u4ea4%u6536%u7684%u552e%u51fa%u53ca%u8d16%u56de%u8b49%u5238%u548c%u6309%u91d1%uff0c%u5176%u76f8%u95dc%u7684%u4fe1%u8cb8%u98a8%u96aa%u751a%u4f4e%u3002%u81ea%u7f6e%u5c45%u6240%uff0f%u7f6e%u696d%u8cc7%u52a9%u8cb8%u6b3e%u662f%u4ee5%u6309%u63ed%u7269%u696d%u4f5c%u62b5%u62bc%u3002%u623f%u59d4%u6703%u5c31%u9280%u884c%u548c%u5176%u4ed6%u8a8d%u53ef%u8ca1%u52d9%u6a5f%u69cb%u70ba%u552e%u51fa%u7684%u8cc7%u52a9%u51fa%u552e%u55ae%u4f4d%u6240%u63d0%u4f9b%u7684%u6309%u63ed%u8cb8%u6b3e%uff0c%u4f5c%u51fa%u6309%u63ed%u9084%u6b3e%u4fdd%u8b49%u3002%u6709%u95dc%u8cb8%u6b3e%u4ee5%u6309%u63ed%u55ae%u4f4d%u4f5c%u62b5%u62bc%u3002%u65bc2024 %u5e74 3 %u6708 31 %u65e5%uff0c%u6309%u63ed%u9084%u6b3e%u4fdd%u8b49%u958b%u652f%u7684%u64a5%u5099%u70ba 1,200 %u842c%u6e2f%u5143 (2023%uff1a500 %u842c%u6e2f%u5143%uff0c%u9644%u8a3b 18)%uff0c%u800c%u6c92%u6709%u5728%u8ca1%u52d9%u5831%u8868%u5167%u4f5c%u51fa%u64a5%u5099%u7684%u8ca1%u52d9%u98a8%u96aa%u70ba 102.94 %u5104%u6e2f%u5143 (2023%uff1a53.33 %u5104%u6e2f%u5143%uff0c%u9644%u8a3b 23(a))%u3002%u96d6%u7136%u5176%u4ed6%u91d1%u878d%u8cc7%u7522%u9808%u9075%u5b88%u6e1b%u503c%u898f%u5b9a%uff0c%u4f46%u623f%u59d4%u6703%u4f30%u8a08%u6709%u95dc%u8cc7%u7522%u7684%u9810%u671f%u4fe1%u8cb8%u640d%u5931%u751a%u5fae%uff0c%u4e26%u8a8d%u70ba%u7121%u9808%u4f5c%u51fa%u640d%u5931%u6e96%u5099%u3002Debtors and deposits mainly include debtors, interest receivable, unsettled sales and redemption of securities and deposits. The associated credit risk is minimal.Home Purchase/Home Assistance Loans are secured by mortgages on properties. Mortgage default guarantees are issued in respect of mortgage loans made by banks and other authorised financial institutions on subsidised sale flats sold. Those loans are secured by mortgages on the flats concerned. As at 31 March 2024, provision for mortgage default guarantee payments amounted to HK$12 million (2023: HK$5 million, Note 18), and the financial exposure not provided for in the financial statements amounted to HK$10,294 million (2023: HK$5,333 million, Note 23(a)). While other financial assets are subject to the impairment requirements, the Authority has estimated that their expected credit losses are minimal and considers that no loss allowance is required.- 37 -