XN000022-1996-01-25 — Page 21

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Hong Kong Monetary Authority money market operations

Opening balance in the account

Closing balance in the account

Change attributable to:

Money market activity

LAF today

Cumulative

Time

$ million (hours)

change ($million)

2,507

0930

-202

3,118

1000

-202

1100

-202

-209

1200

-207

+820

1500

-207

1600

-209

LAF rate 4.25% bid/6.25% offer TWI 123.9 *+0.0* 25.1.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon Price

Yield

1 week

5.58

2 years

2711

5.60

100.66

5.27

1 month

5.49

3 years

3901

5.57

100.40

5.50

3 months

5.40

5 years

5012

6.38

102.45

5.88

6 months

5.33

7 years

7211

6.82

104.16

6.16

12 months 5.22

5 years

M502 7.30

105.03

6.16

Total turnover of EF bills and notes - $18,341 million

Closed January 25, 1996

End