XN000022-1992-09-16 — Page 8

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WEDNESDAY, SEPTEMBER 16, 1992

HONG KONG GOVERNMENT EXCHANGE FUND MONEY MARKET OPERATIONS

* * * * *

$ MILLION

OPENING BALANCE IN THE ACCOUNT

1,500

REVERSAL OF LAF

NIL

BALANCE AFTER REVERSAL OF LAF

1,500

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

NIL

CLOSING BALANCE IN THE ACCOUNT

1,500

LAF RATE 2.00 BID/4.00 OFFER TWI 110.4 *+0.4* 16.9.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

1 MONTH

3 MONTHS

3.29 PCT

14 MONTHS

2311

6.25

103.46

3.24

2.96 PCT

17 MONTHS

2402

5.50

102.88

3.43

2.62 PCT

20 MONTHS

2405

5.50

102.90

3.73

6 MONTHS

2.74 PCT

23 MONTHS

2408

4.375

100.99

3.87

12 MONTHS

3.14 PCT

TOTAL TURNOVER OF BILLS AND BONDS

-

9,869 MN

CLOSED 16 SEPTEMBER 1992