XN000022-1996-09-20 — Page 20

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Hong Kong Monetary Authority money market operations

Cumulative

Time

change

$ million

(hours)

($million)

Opening balance in the account

2,808

0930

-652

Closing balance in the account

2,331

1000

-652

Change attributable to:

1100

-652

Money market activity

- 652

1200

-652

LAF today

+175

1500

-652

1600

-652

LAF rate 4.00% bid/6.00% offer TWI 124.5 *+0.1* 20.9.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC

Terms

Yield

Term

Issue

Coupon Price

Yield

1 week

5.05

2 years

2808

6.00

99.58

6.33

1 month

5.04

3 years

3907

6.80

100.46

6.72

3 months 5.19

5

years

5109

7.32

100.36

7.36

6 months

12 months

5.34

5.69

7 years

7308

7.24

98.40

7.68

5 years

M503 7.35

99.35

7.65

Total turnover of EF bills and notes - $4,860 million

Closed September 20, 1996

End