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TUESDAY, DECEMBER 21, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

TENDERS TO BE HELD IN THE WEEK BEGINNING 27 DEC 1993

TENDER DATE

PAPER ON OFFER

ISSUE NUMBER

ISSUE DATE

28 DEC 93

EF BILLS

Q352

28 DEC 93

EF BILLS

Y397

29 DEC 93

29 DEC 93

MATURITY DATE

30 MAR 94

TENOR

91 DAYS

AMOUNT ON OFFER

28 DEC 94

HKD1,000 + 200 MN

364 DAYS

HKD300 + 90 MN

0

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSAL OF LAF

NET INJECTION/WITHDRAWAL TODAY

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER TWI 113.9 +0.1* 21.12.93

$ MILLION

4,110

-110

4,000

NIL

+206

4,206

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

3.18 PCT

14 MONTHS 2502

4.75

101.36

3.57

1 MONTH

3 MONTHS

3.11 PCT

17 MONTHS 2505

3.75

99.96

3.81

3.05 PCT

20 MONTHS 2508

4.625

101.04

4.01

6 MONTHS 3.20 PCT

23 MONTHS 2511

4.15

99.97

4.21

12 MONTHS 3.46 PCT 34 MONTHS

3610

4.20

98.91

4.66

TOTAL TURNOVER OF BILLS AND BONDS

CLOSED 21 DECEMBER 1993

7,155 MN

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