XN000022-1996-09-19 — Page 17

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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 (Smillion)

2,162

0930

-5

2,808

1000

-5

1100

-5

-2

1200

+648

1500

1600

222

LAF rate 4.00% bid/6.00% offer TWI 124.4 *-0.2* 19.9.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC

Terms

Yield

Term

Issue Coupon

Price

Yield

1 week

5.01

2 years

2808 6.00

1 month

5.01

3 years

3907

6.80

99.62 100.52 6.70

6.31

3 months

5.18

5 years

5109

7.32

100.49 7.33

6 months

5.32

7 years 7308

7.24

98.51

7.66

12 months 5.69

5 years M503

7.35

99.43

7.63

Total turnover of EF bills and notes - $6,720 million

Closed September 19, 1996

End