XN000022-1996-10-28 — Page 12

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11.

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Hong Kong Monetary Authority money market operations

Cumulative

Time

change

$ million

(hours)

(Smillion)

Opening balance in the account

1,841

0930

+657

Closing balance in the account

2,649

1000

+857

Change attributable to:

1100

+857

Money market activity

+858

1200

+858

LAF today

- 50

1500

+858

1600

+858

LAF rate 4.00% bid/6.00% offer TWI 125.0 *+0.1* 28.10.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC

Terms

Yield

Term

Issue

Coupon Price

Yield

1 week

4.86

2 years

2808

6.00

100.39

5.84

I month

4.88

3 years

3910

6.28

100.14

6.32

3 months

4.94

5 years

5109

7.32

102.16

6.90

6 months

5.04

7 years

7308 7.24

100.51

7.27

12 months 5.29

5 years

M503 7.35

100.98

7.23

Total turnover of EF bills and notes - $11,114 million

Closed October 28, 1996

End