-

14

Hong Kong Monetary Authority money market operations

Cumulative

Time

change

$ million

(hours)

(Smillion)

Opening balance in the account

1,905

0930

+504

Closing balance in the account

2,560

1000

+504

Change attributable to:

1100

+498

Money market activity

+500

1200

+500

LAF today

+155

1500

+500

1600

+500

LAF rate 4.00% bid/6.00% offer TWI 123.6 *-0.1* 29.4.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

4.98

2 years

2802

5.16

98.68

6.03

1 month

5.02

3 years

3904

6.30

99.83

6.46

3 months

5.14

5 years

5103

6.75

99.11

7.09

6 months

5.23

7 years

7302

6.02

93.01

7.47

12 months

5.52

5 years

M502

7.30

100.27

7.36

Total turnover of EF bills and notes - $14,901 million

Closed April 29, 1996

End

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