The Hong Kong Monetary Authority (HKMA) was established on 1 April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary. The HKMA is the government authority in Hong Kong responsible for maintaining monetary and banking stability. Its main functions are: Maintaining currency stability within the framework of the Linked Exchange Rate system. Promoting the stability and integrity of the financial system, including the banking system. Helping to maintain Hong Kong's status as an international financial centre, including the maintenance and development of Hong Kong's financial infrastructure. Managing the Exchange Fund.