XN000022-1994-10-12 — Page 18

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WEDNESDAY, OCTOBER 12, 1994

MONTHLY STATISTICAL BULLETIN RELEASED

KONG

THE LATEST ISSUE OF THE MONTHLY STATISTICAL BULLETIN, BY THE HONG KONG MONETARY AUTHORITY (HKMA) TODAY (WEDNESDAY),

OF HONG OUTSTANDING AMOUNT THAT

DOLLAR THE CERTIFICATES OF DEPOSIT (NCDS) AT END-AUGUST INCREASED 67 FROM A YEAR EARLIER.

TOTAL OUTSTANDING

OF HONG KONG

PUBLISHED REVEALS

NEGOTIABLE PER CENT

DOLLAR NCDS AT END-AUGUST AMOUNTED TO $48.3 BILLION, DOWN 1.3 PER CENT FROM END-JULY BUT UP 44 THIS IS COMPARED WITH 24 PER PER CENT FROM THE BEGINNING OF THE YEAR. CENT GROWTH FOR ALL OF 1993.

"THE FIGURES REFLECT A TREND THAT BANKS IN HONG KONG ARE FOR LONGER-TERM FUNDS," A SPOKESMAN FOR THE HKMA WHO REGARDS THE IN AUGUST AS TEMPORARY SAYS.

KEEN

DROP

VALUE

UNIT CENT FROM

THE OCTOBER ISSUE OF THE BULLETIN ALSO SHOWS THAT TOTAL

HKMA'S CENTRAL MONEYMARKETS OF DEBT ISSUES LODGED WITH THE SERVICE ROSE TO $19.2 BILLION AT END-SEPTEMBER, UP 41 PER END-AUGUST.

NOTES

THE AVERAGE YIELD OF THE FIRST ISSUE OF FIVE-YEAR EXCHANGE

SINCE PERIOD WAS

REPORTING 7.78 PER

FOR THE CENT

THE AVERAGE YIELDS FOR THREE-YEAR INTRODUCTION ON SEPTEMBER 26,

6.25 PER TWO-YEAR EXCHANGE FUND NOTES WERE 6.92 PER CENT AND RESPECTIVELY FOR SEPTEMBER.

THE YIELDS SERVE AS IMPORTANT BENCHMARKS FOR OTHER DOLLAR DEBT INSTRUMENTS ISSUED BY THE PRIVATE SECTOR.

FUND

ITS

AND

CENT

HONG KONG

AT THE SAME TIME, AVERAGE DAILY TURNOVER OF EXCHANGE FUND BILLS IN AND NOTES DROPPED TO $15.8 BILLION IN SEPTEMBER FROM $23.5 BILLION

BY MARKET AUGUST PROBABLY BECAUSE OF A MORE CAUTIOUS ATTITUDE TAKEN PARTICIPANTS IN VIEW OF THE UNCERTAINTY OF THE TIMING FOR FURTHER U.S. FEDERAL RESERVES ACTION TO RAISE INTEREST RATES.

THE BULLETIN, WHICH PUBLISHES IN THE SECOND WEEK OF EACH MONTH, DETAILED AND LAUNCHED IN SEPTEMBER AS A VEHICLE TO PROVIDE MORE COMPREHENSIVE DATA ON HONG KONG'S MONETARY AND BANKING ACTIVITIES.

WAS

IMPROVING ON THE FORMAT OF THE FIRST ISSUE, HAS ADDED TO THE LIST OF AUTHORISED INSTITUTIONS A ENTRANTS AND THOSE DELETED FROM THE LIST.

THE SECOND ISSUE SECTION ON NEW

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