XN000022-1996-05-14 — Page 22

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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)

2,302

0930

-306

2,022

1000

-306

1100

-306

-305

1200

-305

+25

1500

-305

1600

-305

LAF rate 4.00% bid/6.00% offer TWI 123.6 -0.1* 14.5.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue Coupon Price

Yield

1 week

4.78

2 years

2805

6.30

100.42

6.17

1 month 4.91

3 years

3904

6.30

99.52

6.58

3 months

5.10

5 years

5103

6.75

98.47

7.25

6 months

5.23

7 years

7302

6.02

91.99

7.69

12 months

5.52

5 years

M502

7.30

99.88

7.47

Total turnover of EF bills and notes - $16,348 million

Closed May 14, 1996

End