22 -

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

4.61

2 years

2802

5.16

100.00 5.23

1 month

4.75

3 years

3901

5.57

100.57 5.43

3 months

4.91

5 years

5012

6.38

101.91 6.00

6 months

4.97

7 years

7211

6.82

103.11

6.34

12 months

5.00

5 years

M502

7.30

104.43

6.29

Total turnover of EF bills and notes - $20.641 million

Closed February 23, 1996

End

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