XN000022-1996-06-12 — Page 27

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25.

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

change

$ million

(hours)

($million)

1,878

0930

+83

1,888

1000

+83

1100

+85

+55

1200

+85

-45

1500

+85

1600

+55

LAF rate 4.00% bid/6.00% offer TWI 124.5 *+0.1* 12.6.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon Price

Yield

1 week

5.01

2

years

2805

6.30

99.77

6.53

1 month

5.09

3 years

3904

6.30

98.73

6.91

3 months

5.25

5 years

5106

7.23

99.29

7.54

6 months

5.46

7 years

7305 7.60

99.32

7.88

12 months

5.87

5 years

M502 7.30

98.92

7.73

Total turnover of EF bills and notes - $30,647 million

Closed June 12, 1996

End