XN000022-1996-08-15 — Page 14

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Hong Kong Monetary Authority money market operations

Cumulative

Time

$ million

(hours)

change ($million)

Opening balance in the account

1,952

0930

+8

Closing balance in the account

1,886

1000

+8

Change attributable to:

1100

+8

Money market activity

+24

1200

+8

LAF today

-90

1500

+24

1600

+24

LAF rate 4.00% bid/6.00% offer TWI 123.9 *+0.1* 15.8.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

4.92

2 years

2808 6.00

99.83

6.18

1 month

5.00

3 years

3907

6.80

100.94 6.55

3 months

5.15

5 years

5106

7.23

101.05 7.09

6 months

5.28

7 years 7305

7.60

101.65 7.42

12 months 5.60

5 years M502

7.30

100.40 7.31

Total turnover of EF bills and notes - $4,976 million

Closed August 15, 1996

End