XN000022-1990-10-22 — Page 7

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MONDAY, OCTOBER 22, 1990

182-DAY EXCHANGE FUND BILLS TO BE ISSUED NEXT WEEK

APPROVED HAS

THE ISSUE OF

182-DAY

ISSUED

THE FINANCIAL SECRETARY EXCHANGE FUND BILLS IN ADDITION TO THE 91-DAY BILLS WHICH WERE IN MARCH THIS YEAR.

THE FIRST TENDER FOR 182-DAY BILL WILL (OCTOBER 30).

BE HELD NRXT

TUESDAY

ISSUED

$60

INITIALLY, UP TO $200 MILLION OF 182-DAY BILLS WILL BE ON ALTERNATE WEEKS. THE RESERVE HELD BY THE EXCHANGE FUND WILL BE .MILLION PER ISSUE.

"THE

PROGRAMME

FOR

91-DAY EXCHANGE

BEEN

ISSUE

MR

DAVID

FUND BILLS HAS OPERATING WELL. THE NEXT STEP IS TO EXTEND THE PROGRAMME BY THE

FOR MONETARY AFFAIRS, THE OF 182-DAY BILLS,

SECRETARY NENDICK, SAID TODAY (MONDAY).

||

AND

"

"THIS WILL HELP TO DEVELOP THE HONG KONG

THE THE ENHANCE

EFFECTIVENESS OF INSTRUMENTS, HE ADDED.

DOLLAR PAPER MARKET

AS BILLS

MONEY MARKET

MARKET COMMITTEE

"WE HAVE CONSULTED THE

AND THE HONG KONG WHICH CAPITAL MARKETS ASSOCIATION. BOTH OF THEM SUPPORT THE PROPOSAL, HAS NOW BEEN APPROVED BY THE FINANCIAL SECRETARY ON THE ADVICE OF EXCHANGE FUND ADVISORY COMMITTEE," MR NENDICK SAID.

THE

TENDER, ISSUE, REDEMPTION

ALL THE SYSTEMS AND PROCEDURES FOR AND TRANSFER OF 91-DAY BILL WILL BE USED FOR THE 182-DAY BILL AS WELL.

REVIEW AND PRIMARY

THE FREQUENCY AND SIZE OF ISSUE WILL BE KEPT UNDER ADJUSTED IF NECESSARY IN THE LIGHT OF ACTUAL RESPONSES IN THE AND SECONDARY MARKETS.

POST OFFICE ISSUES SPECIAL CHRISTMAS STAMPS AND POSTCARDS

FOR THE FIRST TIME, THE POST OFFICE WILL ISSUR OF CHRISTMAS STAMPS AND POSTCARDS THIS YEAR,

A SPECIAL SET

THE STAMPS FOR CHRISTMAS 1990 WILL BE ISSUED ON NOVEMBER 8.

THERE WILL BE SIX DENOMINATIONS:

$1.8, $2 AND $5.

50 CENTS, 60 CENTS,

$1.4,

SAID: "THIS 18 THE OF CHRISTMAS

THE POSTMASTER GENERAL, MR DOMINIC WONG, FIRST TIME THAT THE HONG KONG POST OFFICE ISSUES A SET STAMPS AND POSTCARDS. THEY ARE EXPECTED TO BE POPULAR,"

/IN ADDITION