XN000022-1996-01-22 — Page 12

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Hong Kong Monetary Authority money market operations

Cumulative

Time

change

$ million

(hours)

($million)

Opening balance in the account

1,664

0930

+339

Closing balance in the account

2,361

1000

+339

Change attributable to:

1100

+339

Money market activity

+332

1200

+339

LAF today

+365

1500

+332

1600

+332

LAF rate 4.25% bid/6.25% offer TWI 123.9 *+0.1* 22.1.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

5.43

2 years

2711

5.60

100.72

5.24

1 month

5.40

3 years

3810

6.15

102.05

5.41

3 months

5.33

5 years

5012 6.38

102.60

5.85

6 months

5.29

7 years

7211

6.82

104.30

6.13

12 months 5.17

5 years

M502 7.30

105.11

6.15

Total turnover of EF bills and notes - $9,785 million

Closed January 22, 1996

End