XN000022-1993-12-22 — Page 10

WEDNESDAY, DECEMBER 22, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * *

$ MILLION

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

4,206

-206

4,000

NIL

-440

3,560

TWI 114.0 *+0.1* 22.12.93

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

3.44 PCT

14 MONTHS

2502

4.75

101.36 3.56

1 MONTH

3.24 PCT

17 MONTHS

2505

3.75

99.95 3.82

-

3 MONTHS

3.13 PCT

20 MONTHS

2508

4.625

101.05 4.00

6 MONTHS 3.22 PCT

23 MONTHS

2511

4.15

99.97 4.21

12 MONTHS

3.48 PCT

34 MONTHS

3610

4.20

98.92

4.66

TOTAL TURNOVER OF BILLS AND BONDS

6,262 MN

CLOSED 22 DECEMBER 1993