XN000022-1996-09-17 — Page 8

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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)

2,388

0930

-232

2,039

1000

-232

1100

-232

-229

1200

-232

-120

1500

-232

1600

-229

LAF rate 4.00% bid/6.00% offer TWI 124.5 +0.0* 17.9.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC

Terms

Yield

Term

Issue Coupon

Price

Yield

1 week

4.85

1 month 4.92

3 months

2 years 3 years

2808 6.00

99.84

6.18

5.13

5 years

3907

5109 7.32

6.80

100.81

6.58

100.86

7.24

6 months 5.25

7 years

7308 7.24

99.03

7.56

12 months 5.59

5 years M503

7.35

99.79

7.54

Total turnover of EF bills and notes - $9,841 million

Closed September 17, 1996

End